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Equity Capital Markets

Equity Capital Markets
Equity Capital Markets
Expertise / Practices / Capital Markets / Equity Capital Markets

Respected for our extensive experience, business knowledge and legal acumen, we are regularly engaged by clients to represent them in connection with Canadian aspects of equity capital markets transactions both domestically and internationally.

Our Equity Capital Markets team has extensive experience representing issuers, multinational and Canadian financial institutions, sponsors and managers, venture capitalists, private equity funds, and hedge funds in all types of private and public equity financings. Blakes lawyers have represented clients throughout all stages of the capital-raising cycle, including seed and venture capital funding and private equity investment through to initial public offerings (IPOs). We regularly advise on IPOs, secondary offerings, rights issues, follow-on offerings and private placements, as well as equity-linked transactions. Our lawyers also counsel our clients on tax issues, corporate governance and regulatory compliance matters associated with equity offerings.

Clients have sought our representation in connection with listings on all Canadian stock exchanges, including the TSX, the TSX-V and the Canadian National Stock Exchange. We also advise on Canadian aspects of listings and offerings throughout the world, including those on the New York Stock Exchange, Nasdaq and the Hong Kong Stock Exchange, as well as transactions involving the London Stock Exchange's alternative investment market and offshore private placements.

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Recent Experience
  • Canadian counsel to the underwriters in connection with a public offering of class A subordinate voting shares of Shopify Inc. for aggregate gross proceeds of US$1.5-billion.

  • A syndicate of underwriters on the C$200-million initial public offering of units of Minto Apartment Real Estate Investment Trust.

  • Algonquin Power & Utilities Corp. on its C$444-million offering of common shares.

  • Premium Brands Holdings Corporation on its offerings totalling C$300.2-million of subscription receipts and convertible unsecured subordinated debentures.

  • Cronos Group Inc. on offerings totalling C$140-million of common shares.

  • Kinder Morgan Canada Limited on its C$1.75-billion initial public offering of restricted voting shares.

  • Intact Financial Corporation on its offerings of C$754-million of subscription receipts and C$150-million of preferred shares.

  • Cenovus Energy Inc. on its C$3-billion common share offering and C$10.4-billion acquisition credit facilities relating to its proposed C$17.7-billion acquisition of assets from ConocoPhillips.

  • TransCanada Corporation on its C$3.5-billion offering of common shares and concurrent C$1-billion offering of preferred shares.

  • Encana Corporation on its US$1.15-billion offering of common shares.

  • A syndicate of underwriters on the C$460-million initial public offering by way of secondary offering of subordinate voting shares of Aritzia Inc.

  • A syndicate of underwriters on the US$1.39-billion secondary offering of shares of Canadian Pacific Railway Limited by Pershing Square Capital Management.

  • Suncor Energy Inc. on its C$2.5-billion common share prospectus financing.

  • TransCanada Corporation in respect of its C$4.4-billion offering of subscription receipts, the largest bought deal in Canadian history.

  • Element Financial Corporation on its C$2.8-billion offering of subscription receipts, convertible debentures and series G preferred shares, the third-largest bought deal ever in the Canadian capital markets.

  • Kinder Morgan Canada Limited on its C$1.75-billion initial public offering of restricted voting shares.

  • Intact Financial Corporation on its offerings of C$754-million of subscription receipts and C$150-million of preferred shares.

  • Cenovus Energy Inc. on its C$3-billion common share offering and C$10.4-billion acquisition credit facilities relating to its proposed C$17.7-billion acquisition of assets from ConocoPhillips.

  • TransCanada Corporation on its C$3.5-billion offering of common shares and concurrent C$1-billion offering of preferred shares.

  • Encana Corporation on its US$1.15-billion offering of common shares.

  • A syndicate of underwriters on the C$460-million initial public offering by way of secondary offering of subordinate voting shares of Aritzia Inc.

  • A syndicate of underwriters on the US$1.39-billion secondary offering of shares of Canadian Pacific Railway Limited by Pershing Square Capital Management.

  • Suncor Energy Inc. on its C$2.5-billion common share prospectus financing.

  • TransCanada Corporation in respect of its C$4.4-billion offering of subscription receipts, the largest bought deal in Canadian history.

  • Element Financial Corporation on its C$2.8-billion offering of subscription receipts, convertible debentures and series G preferred shares, the third-largest bought deal ever in the Canadian capital markets.

  • A syndicate of underwriters on the C$1.83-billion initial public offering of common shares of Hydro One Limited, the largest Canadian IPO since 2000, and on its C$1.97-billion secondary offering of common shares.

  • INFOR Acquisition Corp., a newly organized special purpose acquisition corporation (SPAC), on its C$200-million initial public offering.

  • A syndicate of underwriters on the US$150-million cross-border initial public offering and subsequent US$234-million offering of class A subordinate voting shares of Shopify Inc.

  • Encana Corporation and PrairieSky Royalty Ltd. on the C$1.67-billion initial public offering of common shares of PrairieSky Royalty Ltd. and its subsequent C$2.6-billion offering of common shares.

  • A syndicate of underwriters on the US$800-million of common shares of Silver Wheaton Corp.

  • Pattern Energy Group Inc. in connection with its US$400-million cross-border initial public offering of common shares and subsequent cross-border treasury and secondary offerings of over US$900-million of common shares.

  • Romarco Minerals Inc. on its C$300-million offering of common shares.

  • A syndicate of underwriters on the C$200-million offering of preferred shares of AltaGas Ltd.

  • The Descartes Systems Group Inc. on its US$147-million cross-border offering of common shares.

  • Element Financial Corporation on its C$1.4-billion public offerings consisting of C$949-million of subscription receipts, C$345-million of convertible debentures and C$133-million of preferred shares.

  • Sprott Resource Partnership on its C$68-million offering of common shares of Long Run Exploration Ltd.

  • Open Text Corporation on its US$128-million offering of common shares.

  • TD Securities Inc. and a syndicate of other underwriters on the C$300-million offering of common shares of Inter Pipeline Ltd.

  • Redknee Solutions Inc. on its C$75-million offering of common shares.

  • A syndicate of underwriters in connection with Loblaw Companies Limited’s spin-out of its real estate assets to a new public company, Choice Properties Real Estate Investment Trust, and related offerings of C$400-million of trust units and C$600-million of senior unsecured debentures.

  • Enervest Diversified Income Trust on its C$329-million offering of warrants to subscribe for units.

  • Element Financial Corporation on prospectus and private placement financings of common shares and special warrants over the last 12 months raising aggregate gross proceeds of C$670-million.

  • Peters & Co. Limited and a syndicate of other underwriters on the C$141.9-million and C$174-million offerings of common shares of Tourmaline Oil Corp. by way of public offering and private placement.

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