07:14 AM EST, 12/01/2020 (MT Newswires) -- Docebo Inc. (DCBO.TO), which applies new technologies to the traditional corporate learning management system market, and that saw its shares rise 2.5% yesterday to near 52 week highs, has launched a marketed public offering of its common shares in the US and Canada. This is also Docebo's initial public offering in the US.
In connection with the IPO, Docebo has filed an application to list its shares on The Nasdaq Global Select Market under the ticker DCBO. Docebo's common shares will continue to trade on the TSX under the same symbol.
A total of US$125 million of common shares will be offered for sale in the offering, which will be conducted through a syndicate of underwriters led by Morgan Stanley, Goldman Sachs & Co. and Canaccord Genuity, as joint lead book-running managers. The offering will be priced in the context of the market, with the price and total size of the offering to be determined at the time of entering into an underwriting agreement.
The underwriters will also be granted a 15% over-allotment option to purchase up to US$18.75 million of additional common shares for 30 days from the date of the underwriting agreement.
Net proceeds will be used primarily to strengthen the company's financial position and allow it to pursue its growth strategies.
Price: 67.69, Change: +1.69, Percent Change: +2.56