Thinkific aims to raise $160 million CAD through TSX IPO
Vancouver’s Thinkific Labs is looking to raise $160 million CAD through its upcoming initial public offering (IPO) on the Toronto Stock Exchange (TSX).
The software-as-a-service (SaaS) startup plans to issue between 12.3 million and 14.6 million subordinate voting shares, priced between $11 to $13 per share, according to documents filed Monday. The offering is set to value Thinkific at $750 million, according to The Globe and Mail.
The SaaS startup said it has experienced significant growth over the past few years, including during COVID-19.
Thinkific initially filed to go public three weeks ago, applying to trade on the TSX under the symbol ‘THNC.’ The company plans to use the proceeds from its IPO to invest in sales and marketing, its platform, and other unspecified “future opportunities.”
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