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Magnet Forensics increases TSX IPO target, aiming to raise $100 million Kitchener-Waterloo’s Magnet Forensics is now looking to raise just over $100 million CAD through its upcoming initial public offering (IPO) on the Toronto Stock Exchange (TSX), according to the company’s latest securities filings. The cybersecurity software startup filed its final prospectus earlier today. The new target represents a more than $10 million increase from the company’s initial goal of $90 million, as outlined by its preliminary prospectus, which it filed on April 15. BetaKit has reached out to Magnet Forensics to confirm the revised target, but has yet to receive a response by publication. ....
Kitchener-Waterloo’s Magnet Forensics looks to raise $90 million CAD in IPO Kitchener-Waterloo startup Magnet Forensics, which develops digital investigation software for forensic professionals, plans to raise $90 million CAD in an initial public offering (IPO) on the Toronto Stock Exchange (TSX). The company filed its preliminary prospectus Thursday, and plans to trade on the TSX under the symbol ‘MAGT.’ The company plans to sell between 5,625,000 and 6,428,571 shares at a price between $14 and $16. Magnet Forensics is one of a number of Canadian tech startups that have turned to public markets in recent months. BMO Capital Markets and Canaccord Genuity Corp. are acting as lead underwriters and joint bookrunners for the IPO. The offering also includes an over-allotment option, which, if exercised in full, would bring the transaction’s proceeds to $103.5 million. ....