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IPOs booming as Canadian companies refuse to let crisis deter them from going public
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IPOs booming as Canadian companies refuse to let crisis deter them from going public
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Thinkific closes TSX IPO, raising $160 million
Vancouver’s Thinkific Labs has closed its previously announced initial public offering (IPO) on the Toronto Stock Exchange (TSX), raising more than $160 million CAD in gross proceeds.
The course creation platform sold 12,310,000 subordinate voting shares at a price of $13 per share, for estimated net proceeds of approximately $152 million.
Thinkific, which initially filed to go public just over a month ago, began trading on the TSX today under the symbol ‘THNC.’ According to Thinkific’s final prospectus, the company decided to go public to improve awareness of its brand, increase the company’s financial flexibility, and facilitate future access to public capital markets.
Following IPO, Thinkific CEO sees more opportunity to scale
Vancouver-based Thinkific Labs’ co-founder and CEO Greg Smith sees a “huge opportunity” in scaling to meet the growing needs of entrepreneurs and the online course creator economy.
Earlier today, Thinkific closed its initial public offering (IPO), raising $160 million CAD, and began trading on the Toronto Stock Exchange under the symbol ‘THNC.’ The company told BetaKit the offering gives it a valuation of over $1.04 billion.
“There’s just such a huge opportunity for us to go out and help more entrepreneurs and small businesses.” – Greg Smith, Thinkific
“There’s just such a huge opportunity for us to go out and help more entrepreneurs and small businesses,” Smith told BetaKit in an interview. “The market forces really were already there, like the rise of the entrepreneur and the whole course creator economy.”
B C s billion-dollar debut: Thinkific surpasses rare valuation milestone as online course platform s stock soars on IPO
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