[SatNews] COM DEV International (TSX:CDV) and exactEarth Ltd. have announced that exactEarth has filed a preliminary prospectus with the securities regulatory authorities in each of the provinces and territories of Canada (other than Quebec) in connection with a proposed initial public offering of its common shares (the "Offering").
exactEarth is jointly owned by COM DEV and Hisdesat Servicios Estrategicos S.A. (the "Selling Shareholders"). The Offering contemplates a treasury offering of common shares by exactEarth, and, if the over-allotment option granted to the underwriters is exercised, a secondary offering of common shares by the Selling Shareholders. The Offering is being made through a syndicate of underwriters led by Canaccord Genuity Corp. with other syndicate members to be named.
A preliminary prospectus containing important information relating to these securities has been filed with the securities commissions or similar authorities in each province and territory of Canada (other than Quebec). The preliminary prospectus is still subject to completion or amendment. Copies of the preliminary prospectus will be available on SEDAR at http://www.sedar.com/ or from the underwriters named in the preliminary prospectus. This press release does not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale or any acceptance of an offer to buy these securities until a receipt for the final prospectus has been issued. Completion of the Offering is subject to and conditional upon the receipt of all necessary approvals, including regulatory approvals.
The securities offered have not 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 laws and may not be offered or sold, directly or indirectly, within the United States (as defined in Regulation S under the U.S. Securities Act) other than pursuant to an available exemption from the registration requirements of the U.S. Securities Act. This press release does not constitute an offer to sell or a solicitation of an offer to buy any such securities within the United States.