Coveo Solutions Inc Closes $215 Million Initial Public Offering and Concurrent Private Placement

November 24, 2021 | Montreal, QC and San Francisco, CA 

Coveo Solutions Inc. (“Coveo” or the “Company”) today announced the successful closing of its initial public offering  of 14,340,000 subordinate voting shares of the Company (the “Offering”) at a price of C$15.00 per subordinate voting share (the “Offering Price”), for gross proceeds of C$215,100,000.

The subordinate voting share began trading on the Toronto Stock Exchange (“TSX”) on November 18, 2021 in Canadian dollars under the symbol “CVO”.

The Offering was made through a syndicate of underwriters led by BMO Capital Markets, BofA Securities, RBC Capital Markets and UBS Investment Bank, as joint bookrunners, and Canaccord Genuity Corp., Oppenheimer & Co. Inc., National Bank Financial Inc., Scotiabank, TD Securities Inc. and Ramirez & Co., Inc. (collectively, the “Underwriters”).

The Company has granted to the Underwriters an over-allotment option (the “Over-Allotment Option”) to purchase up to an additional 2,151,000 subordinate voting shares at the Offering Price. If the Over-Allotment Option is exercised in full, the gross proceeds of the Offering will be C$247,365,000. The Over-Allotment Option may be exercised in whole or in part, at the sole discretion of the Underwriters, for a period of 30 days from the closing date of the Offering.

Concurrently with the closing of the Offering, the Company also closed a direct private placement of 143,400 additional subordinate voting shares to certain customers, suppliers and other business partners of the Company residing outside Canada on the same terms as the Offering.

The Offering was completed pursuant to the Company’s supplemented PREP prospectus (the “Prospectus”) dated November 17, 2021, and filed with the securities regulators in each of the provinces and territories of Canada, a copy of which is available under Coveo’s profile on SEDAR at www.sedar.com.

No securities regulatory authority has either approved or disapproved the contents of this press release. This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities of the Company in any jurisdiction in which such offer, solicitation or sale would be unlawful. The subordinate voting shares have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any U.S. state securities law and may not be offered or sold in the United States except in compliance with the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws or pursuant to an exemption therefrom.