Avigilon Corporation IPO

Avigilon Corporation (TSX: AVO-T), a supplier of high-definition (HD) surveillance systems, has closed its proposed initial public offering (IPO) and secondary offering of its common shares. Avigilon began trading on the Toronto Stock Exchange with sales of $26-million in the first half of 2011. The offering consisted of 5,554,446 common shares, of which 4,444,446 common shares were issued and sold by Avigilon and 1,110,000 common shares were sold by British Columbia Discovery Fund (VCC) Inc. and M.E. Kutlubay, at a price of $4.50 per common share, for gross proceeds to Avigilon of $20 million and to the selling shareholders of $4.995 million. Avigilon Corporation was advised on the legal aspects of this transaction by a team of Fasken Martineau lawyers that included Prentice Durbin, Iain Mant and Steve Saville.