Pinetree Capital’s Rights Offering

Torys LLP is representing Pinetree.

On March 29, 2021, Pinetree Capital Ltd. announced that it will be issuing rights to holders of its common shares of record as at the close of business on April 6, 2021. Each holder of common shares as at the record date and who is a resident of a province or territory of Canada will receive one transferable right for each share held. Each right will entitle the holder to subscribe for one common share at a price of C$1.85 per share during the exercise period. A maximum of 9,420,198 common shares will be issued pursuant to the rights offering, representing 100% of the issued and outstanding common shares as of March 29, 2021.

The rights will be listed for trading on the TSX on a “when issued” basis at the opening of business on April 13, 2021. Trading will cease at 12:00 p.m. (Toronto time) on May 13, 2021 and will be exercisable until 5:00 p.m. (Toronto time) that day.

Pinetree is a value-oriented investment and merchant banking company focused on the technology sector.

The Torys’ team comprised of Michael Zackheim (Picture), David Forrester and Matthew Gragtmans (corporate/securities).

Involved fees earner: David Forrester – Torys LLP; Matthew Gragtmans – Torys LLP; Michael Zackheim – Torys LLP;

Law Firms: Torys LLP;

Clients: Pinetree Capital Ltd.;

Author: Martina Bellini