Thursday, May 27: Vendasta secured $119.5 million in funding just over two months after the company filed to go public and priced its IPO. This latest round of financing is putting the company’s IPO on hold.
Wednesday, April 7: Vendasta was scheduled to price its IPO last week and start trading this week, but neither has happened. There is talk of decreasing investor demand for Vendasta (as well as other competitor companies) making it tough for Vendasta to go through with their originally-estimated $100-million IPO. As a result, the company may lower their IPO price. We will update this page as more information becomes available.
Monday, March 22: Vendasta Technologies Inc. filed an amendment to its preliminary prospectus for the proposed IPO. They are expected to offer between 6,250,000 and 7,142,857 common shares priced between $14.00 and $16.00 per share. The company has applied to be listed on the TSX under the symbol “VND”.
Note: all dollar amounts on this page are in US dollars unless otherwise stated.
Saskatchewan-based software company Vendasta is planning to go public via an IPO. Find out how investors in Canada can buy in when the company goes public. Plus, compare online trading platforms that provide access to Canadian stocks.
What we know about the Vendasta IPO
On May 27, 2021, Vendasta Technologies Inc. which develops and markets digital business software for small- and mid-sized companies, withdrew plans to go public on the Toronto Stock Exchange (TSX).
The company had filed a preliminary long-form prospectus with Canadian securities regulators on March 16, 2021. The IPO was reportedly being led by CIBC World Markets, National Bank Financial and TD Securities.
The COVID-19 pandemic increased the valuations of many software companies, encouraging competitors in the space to capitalize on investors’ interest by going public.
Vendasta’s top shareholders are Vanedge Group (a Vancouver-venture capital firm) and Business Development Bank of Canada’s venture-capital group.
As of now, the company has not announced a future IPO date. We will update this page with more information as it becomes available.
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Although you can’t buy Vendasta stock, you can still invest in similar publicly-traded companies.
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