ATS Corporation (ATS) has announced the pricing of its initial public offering (IPO) of 6 million common shares in the United States and Canada. The underwriters have agreed to purchase the shares at a price of US$41 per share, for aggregate gross proceeds to the Company of US$246 million. The Common Shares are expected to begin trading on the New York Stock Exchange under the symbol “ATS” on May 25, 2023.
The offering is being conducted through a syndicate of underwriters led by Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC, as joint active bookrunners. The Company has granted the underwriters an over-allotment option, exercisable for a period of 30 days from the date of the underwriting agreement for the offering, to purchase up to an additional 900,000 Common Shares.
ATS expects that the net proceeds of the offering will be used for strategic opportunities, including acquisitions, as well as working capital requirements and general corporate purposes. The Company may execute on strategic opportunities, including disciplined acquisitions, if and when such opportunities arise, that drive the creation of long-term sustainable shareholder value.
Prospective investors should read the base shelf prospectus and the applicable prospectus supplement as well as the registration statement before making an investment decision. No securities regulatory authority has either approved or disapproved the contents of this press release.