skip to main content




Back to all Representative Matters
Jul 18, 2018

Baylin Technologies Inc. Completes $40.25 Million Bought Deal Offering and Acquisition of Alga Microwave Inc.

Richard M. Kimel, Sherri M. Altshuler, Sean Mason, Aaron Baer, Amy Marcen-Gaudaur, Aaron T. Collins, Kyle B. Plunkett, Alyssa Gebert, Francesco Gucciardo and Stacey Blydorp

Baylin Technologies Inc. (TSX:BYL) (“Baylin”), a diversified leading global wireless technology management company, recently completed a $40.25 million bought deal public offering of subscription receipts (“Subscription Receipts”) and 6.5% extendible convertible unsecured debentures (“Debentures”) and the related acquisition of Alga Microwave Inc. (“Alga”). Alga is a market leader in the engineering, design and development of radio frequency and microwave components, and a leading supplier of radio frequency and microwave solid state power amplifiers, pulsed amplifiers for radar applications, transmitter and transceiver products as well as radio frequency passive components and systems.

On July 10, 2018, Baylin completed its offering of 7,419,355 Subscription Receipts and $17,250,000 principal amount of Debentures, inclusive of 967,742 Subscription Receipts and $2,500,000 principal amount of Debentures issued pursuant to the exercise in full of the underwriters’ over-allotment option. The offering was completed by way of a prospectus supplement to a short form base shelf prospectus and was underwritten by a syndicate of underwriters led by Raymond James Ltd. and including Paradigm Capital Inc. and National Bank Financial Inc.

On July 11, 2018, Baylin, through newly incorporated, wholly-owned subsidiaries, completed the acquisition of Alga for a purchase price of $25 million (subject to customary adjustments) and concurrently acquired the premises in which Alga's operations are primarily conducted (the "Alga Facility") for a purchase price of $6.2 million.

Proceeds from the offering were used to finance the cash portion of the purchase price for Alga. The purchase price for the Alga Facility was satisfied in part by the assumption of existing debt, with the balance payable to the vendor one year after closing.

Aird & Berlis acted on behalf of Baylin with a team comprised of Richard Kimel, Sherri Altshuler, Sean Mason, Chris Berrigan, Aaron Baer and Amy Marcen-Gaudaur (Capital Markets/M&A), Aaron Collins, Kyle Plunkett and Alyssa Gebert (Financial Services), Francesco Gucciardo (Tax) and Stacey Blydorp (Summer Student).

Related Representative Matters

Representative Matters
Fluent, Inc. Completes Acquisition of AdParlor Holdings, Inc. Peter K. Czegledy, Francesco Gucciardo, Barbra H. Miller, Sam Billard, Ken Clark, John J. Longo, Stephen Zolf and Saam Nainifard Jul 03, 2019 Fluent, Inc. (“Fluent”), a leading data-driven performance marketing company, signed a definitive agreement to acquire AdParlor Holdings, Inc. ("AdParlor") and its group of companies.
Representative Matters
Veridian Corporation and Whitby Hydro Complete Merger Ron W. Clark, Jeremy D. Burke, Stephen Crawford, Sarah Newman, Dennis M. O'Leary, Barbara Worndl, Lorenzo Lisi and Barbra H. Miller Apr 01, 2019 On April 1, 2019, Veridian Corporation and Whitby Hydro Energy Corporation amalgamated to form Elexicon Corporation, and their subsidiaries amalgamated to form a single regulated electricity distribution subsidiary, Elexicon Energy Inc., and a non-regulated subsidiary, Elexicon Group Inc.
Representative Matters
Eve & Co Enters into Credit Facility to Fund Expansion of Its Greenhouse Production Facility Richard M. Kimel, Melanie Cole, Sean Green, Andrew Biderman and Daniel Mahler Mar 19, 2019 On March 19, Eve & Co Incorporated, through its wholly-owned subsidiary Natural MedCo Ltd., entered into an $18,700,000 construction facility with Royal Bank of Canada to fund the completion of a 780,000 sq. ft. expansion of its greenhouse production facility located in Middlesex County, Ontario.