My apologies to the board for posting this here.
I noticed you post on this board and since i can't tell if you read my followup post on FXC.TO ( due to a lack of reply) ,I think the following will answer your question.
RE:RE:RE:FAX Capital Price/History
How about this to clarify , I hope ?
Everything prior to the IPO , is irrelevant . The principals took over a shell listing and then injected with their own capital before selling some shares to the public.
Let me know if this helps.
Toronto advised FAX Capital Corp. in its C$190m public offering
December 18, 2019
Client: FAX Capital Corp.
Our Toronto office advised FAX Capital Corp. (“FAX”) on its public offering of units and concurrent private placement for aggregate proceeds of C$190m.
This transaction was effectively an IPO as FAX originally became a publicly listed company through a reverse takeover, more recently changed its business to an investment company and had minimal assets prior to the completion of this offering. Given FAX’s change of business, minimal assets and dual-class share structure, there were extensive discussions with and submissions to the OSC regarding the structure of the company and, ultimately, FAX negotiated a unique set of voluntary measures to be imposed on its business. FAX also changed its stock exchange listing from the CSE to the TSX in connection with the offering and was the second issuer to go through the TSX Sandbox program.
The team was led by Cathy Singer and Tommy Wong and included Cynthia Sargeant, Mark Bissegger, Jennifer McPherson, Katherine MacPhail, Connor Kense, Kathy Snow (Corporate and Securities), Adrienne Oliver (Tax) and Linda Fuerst (Regulatory).
My apologies again to the board