Toronto, Ontario, Canada – (via THE
HOSTING NEWS) – August 12, 2005 – Tucows Inc. has announced the pricing
of its public offering of 22,225,000 shares of common stock at a price of US
$0.90 per share. Of the 22,250,000 shares
21,823,827 shares are being offered by existing shareholders of the Company
and 401,173 shares are being offered by the Company.
The Company will not receive any proceeds from the sale of the shares offered
by existing shareholders. As a result of the 7,775,000 share reduction in the
number of shares being offered by the Company, the Company expects to incur
in expenses in connection with the offering. Tucows has granted the underwriters
a 30-day option to purchase up to an additional 2,889,250 shares of common stock
to cover over-allotments, if any, at a price of US $0.90 per share.
The shares are being offered in the United States through Desjardins Securities
International Inc., CIBC World markets Corp. and Harris Nesbitt Corp.
Tucows anticipates that the offering will close on August 19, 2005 and that
its common stock will commence trading on the American Stock Exchange under
the symbol ”TCX” on August 16, 2005. The Toronto Stock Exchange (”TSX”)
has conditionally approved the listing of the common stock, subject to the Company
fulfilling all of the listing requirements of the TSX.
The common stock will not commence trading on the TSX prior to the closing of
the offering. The proposed listing symbol for the common stock on the TSX is
A copy of the U.S. prospectus relating to the offering may be obtained from
Desjardins Securities International Inc., syndication, 145 King Street West,
Toronto, Ontario M5H 1J8.
For more information, please visit: www.tucowsinc.com.