TORONTO--(BUSINESS WIRE)--Docebo Inc. (“Docebo” or the “Company”) (TSX: DCBO; Nasdaq: DCBO), a leading artificial intelligence (AI)-powered learning suite provider, today announced a new at-the-market equity offering program (the “ATM Program”) that allows Intercap Equity Inc. (“Intercap” or the “Selling Shareholder”) to sell up to US$200.0 million of existing common shares of the Company (the “Common Shares”) to the public, from time to time, at Intercap’s discretion. The Company will not make any sales under the ATM Program and will not receive any proceeds from the ATM Program. No sales will be made through a stock exchange or stock market in Canada. Sales under the ATM Program are not expected to begin at least until after the issuance of the Company’s 2021 financial results in March 2022. All sales under the ATM Program will comply with Docebo’s insider trading policy, including restrictions imposed thereunder during blackout periods.
The timing and amount of any sales will be determined by a variety of factors considered by Intercap at its discretion. Sales may be made at market prices prevailing at the time of a sale or at prices related to prevailing market prices. As a result, sales prices may vary, and the actual number of Common Shares sold will vary depending on the actual sales prices under the ATM Program.
Distributions of the Common Shares through the ATM Program will be made pursuant to the terms of an equity distribution agreement dated January 4, 2022 among the Company, the Selling Shareholder and Canaccord Genuity and including ATB Capital Markets, as sales agents.
The Common Shares will be offered and sold under the Company’s shelf registration statement on Form F-3 (the “Registration Statement”), which was filed with the U.S. Securities and Exchange Commission (the “SEC”) on January 4, 2022 and has not yet become effective. A preliminary prospectus related to the ATM Program (the “ATM Prospectus”) has been filed with the SEC together with the Registration Statement. No common shares may be sold and no offers to buy may be accepted prior to the time the Registration Statement becomes effective.
The ATM Prospectus and the Registration Statement contain important detailed information about the Company and the ATM Program. Prospective investors should read the ATM Prospectus and the Registration Statement and the other documents the Company has filed with the SEC for more complete information about the Company and the ATM Program before making an investment decision. A copy of the final ATM Prospectus will be filed with the SEC and made available on EDGAR at www.sec.gov and on SEDAR at www.sedar.com after the Registration Statement becomes effective. Copies of the ATM Prospectus may also be obtained, when available, from Canaccord Genuity LLC, Attention: Syndicate Department, 99 High Street, 12th Floor, Boston MA 021990, by email at prospectus@cgf.com.
This news release does not constitute an offer to sell or the solicitation of an offer to buy the Common Shares, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Docebo
Docebo is redefining the way enterprises leverage technology to create content, deliver training, and understand the business impact of their learning experiences. With Docebo’s multi-product learning suite, enterprises around the world are equipped to tackle any learning challenge and create a true learning culture within their organization.