(December 16) – Integrated Asset Management Corp. has priced its public offering. The firm will offer between 2 million and 5 million common shares at $1 per share.
It will use $2,925,000 of the proceeds to finance future acquisitions and boost working capital. It will also repay its $1.6 million loan to Poplar Management Corp., incurred to acquire subsidiary Greiner-Pacaud Management Associates.
Goepel McDermid Inc. is underwriting the deal. It’s expected to close December 21. The firm’s board includes Hirsch, Michel LeBel, former head of corporate finance at Desjardins-Laurentian Life Group, Stephen Paddon, former general counsel and secretary of both Crownx Inc. and Crown Life Insurance Co., and Paul Starita, former president of Marathon Mutual Funds and head of CIBC Securities Inc. Starita is currently director of the Executive Education Institute at the University of Victoria.
Integrated says its goal is to establish itself as a leading Canadian provider of investment management services for non-traditional investments. It intends to design innovative products for retail investors, high net worth investors and institutional investors, to provide asset management services in specialized asset classes, and build specialized asset management organizations around equitized managers.
-IE Staff