Ismagilov
ATS Corp. launched (ATS) (OTCPK: ATSAF), a Canadian provider of automation solutions, has announced an initial public offering in the United States.
ATS said in a statement that it plans to offer 6 million shares that have not yet been priced. Agents will be awarded 30-day option to purchase up to 900,000 additional shares to cover overallotments.
The company intends to list its shares on the New York Stock Exchange under the symbol ATS. The company’s shares will continue to trade on the Toronto Stock Exchange, where it closed at the equivalent of $45.76 USD on May 19, According to an SEC filing.
Goldman Sachs and JP Morgan are lead managers for the deal, and TD Securities has joined them as underwriting manager. The company said it plans to use the proceeds from the deal, in part, to pay down debt. according to a statement.
Headquartered in Ontario, ATS is a leading provider of manufacturing automation systems for the life sciences, consumer products, food and beverage, energy, and transportation sectors.
The deal is expected to be priced later this week. According to Renaissance Capital.
More about ATS:
ATS Corporation 2023 Q4 – Results – Earnings Call Presentation
ATS Corporation (OTCPK: ATSAF) Q4 2023 Earnings Call Transcript
ATS acquires reliability engineering services company Triad Unlimited
