ATS Automation Tooling Systems Inc. announced that its wholly-owned subsidiary, Photowatt Technologies Inc., has commenced the marketing of an initial public offering of its common shares. Photowatt Technologies is offering 10,937,500 primary shares of common stock at a preliminary indicative offering price range of US $15.00 to $17.00 per share.
BMO Capital Markets and UBS Investment Bank are acting as joint book-running managers for the initial public offering. The underwriters have an over-allotment option to purchase up to 1,640,625 additional primary shares of common stock from Photowatt Technologies at the public offering price. Other syndicate members in Canada include GMP Securities, Scotia Capital and Sprott Securities and in the United States, Cowen and Company, GMP Securities and Sprott Securities.
A registration statement relating to these securities has been filed with the United States Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. A preliminary prospectus has also been filed with Canadian securities regulators relating to the initial public offering of Photowatt Technologies’ common shares.
