Coveo Solutions Inc. Closes $215 Million Initial Public

NOT FOR DISTRIBUTION TO US NEWS WIRE SERVICES OR FOR DISTRIBUTION IN THE UNITED STATES.

MONTREAL and SAN FRANCISCO, Nov. 24, 2021 (GLOBE NEWSWIRE) – Coveo Solutions Inc. (“Coveo” or the “Company”) today announced the successful completion of its initial public offering of 14,340,000 subordinated voting shares in the company (the “Offering” ) at a price of $ 15.00 per subordinate voting share (the “Offer Price”) for gross proceeds of $ 215,100,000.

The voting subordinated stock traded in Canadian dollars under the symbol “CVO” on November 18, 2021 on the Toronto Stock Exchange (“TSX”).

The offer was made by a consortium of underwriters led by BMO Capital Markets, BofA Securities, RBC Capital Markets and UBS Investment Bank as joint bookrunners, as well as Canaccord Genuity Corp., Oppenheimer & Co. Inc., National Bank Financial Inc., Scotiabank. conducted by TD Securities Inc. and Ramirez & Co., Inc. (collectively the “Underwriters”).

The Company has granted the syndicate banks an over-allotment option (the “Over-Allotment Option”) to purchase up to 2,151,000 subordinated voting shares at the Offer Price. If the greenshoe option is fully exercised, the gross proceeds of the offering will be C $ 247,365,000. The over-allotment option can be exercised in whole or in part at the sole discretion of the syndicate banks for a period of 30 days from the closing date of the offer.

Simultaneously with the completion of the Offering, the Company also completed a direct private placement of 129,996 additional subordinated voting shares to certain customers, suppliers and other business partners of the Company residing outside of Canada on the same terms as the Offering.

The offering was completed and filed with the securities regulators in all provinces and territories of Canada under the Company’s amended PREP prospectus (the “Prospectus”) dated November 17, 2021, a copy of which is posted on Coveo’s profile on SEDAR. is available at www.sedar.com.

No securities regulatory authority has approved or disapproved the contents of this press release. This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the Company in any jurisdiction in which such offer, solicitation or sale would be unlawful. The subordinated voting shares have not been and will not be registered under the United States Securities Act of 1933, as amended (the “US Securities Act”) or any US securities act, and may not be offered or sold in the United States except in the following cases will comply with the registration requirements of the US Securities Act and applicable US state securities laws, or any exception thereof.

About Coveo

We believe that relevance is crucial to be successful in the new digital experience economy. Coveo is a market-leading AI-powered relevance platform. Our goal is to provide our customers with the relevant experiences that we believe people expect in the new digital economy. Our SaaS-native, multi-tenant platform integrates search, recommendation and personalization solutions into digital experiences. We offer solutions for e-commerce, service, website and workplace applications. Our solutions are designed to deliver tangible value to our customers by helping to increase sales growth, lower customer support costs, increase customer satisfaction and website engagement, and improve employee skills and satisfaction .

Our AI supports relevant interactions for hundreds of the world’s most innovative brands and is supported by a large network of global systems integrators and implementation partners.

Coveo is a trademark of Coveo Solutions Inc.

Forward-Looking Statements

This press release may contain forward-looking information within the meaning of applicable Canadian securities laws that reflects the company’s current expectations of future events. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond the control of the company and which could cause actual results and events to differ materially from those expressed in such forward-looking information. These risks and uncertainties include the factors that are explained in the prospectus under “Risk Factors”. The company assumes no obligation to update such forward-looking information, whether as a result of new information, future events or for other reasons, unless this is expressly required under applicable law.

Contact:

High wire PR
Coveo
media@coveo.com
+1 418-263-1111

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/b9b75c79-f706-421f-bdc8-e7945b5c6ca1

https://www.globenewswire.com/news-release/2021/11/24/2340646/0/en/Coveo-Solutions-Inc-Closes-215-Million-Initial-Public-Offering-and-Concurrent-Private-Placement.html