FormerXBC Inc XEBEQ

Raymond James

[alsoranaround]

So Raymond James issues an upgrade from $7 to $12 on the same day their subscription receipts are received, causing the stock to jump by 13%.  Shows what a dirty business investment banking is.  Wonder if they're now privately telling their biggest clients to sell now that they've goosed the share price.

Xebec Press Release today:
<Snip>
The cash consideration for the Acquisition was financed using the proceeds from the Corporation’s bought deal public offering of subscription receipts (the “Subscription Receipts”) completed through a syndicate of underwriters led by Desjardins Capital Markets and TD Securities Inc. acting as joint bookrunners, and including National Bank Financial Inc., Canaccord Genuity Group Inc., Raymond James Ltd., Beacon Securities Limited and Stifel Nicolaus Canada Inc. and from a concurrent private placement of subscription receipts (the “Placement Subscription Receipts”) with the Caisse de dpt et placement du Qubec, both of which closed on December 30, 2020.

Raymond James:

https://www.bnnbloomberg.ca/video/notable-calls-xebec-adsorption-and-air-canada~2109839