On March 19, 2021, Payfare Inc. (TSX: PAY) successfully closed its initial public offering of common shares at a price of $6.00 per common share for total gross proceeds of $65.4 million. The common shares have commenced trading on the Toronto Stock Exchange. The offering was made through a syndicate of underwriters led by Stifel GMP and which included Scotia Capital, Canaccord Genuity and Raymond James.
Payfare is a global financial technology company powering digital banking and instant payment solutions for today's gig workforce. Payfare partners with major gig platforms in the gig economy to drive financial inclusion and empowerment for next-generation gig workers.
Gowling WLG advised Payfare with respect to the IPO with a team that included Peter Simeon, Sharagim Habibi, Taylor Hanson and Martin Mix (corporate/securities) and Ted Thiessen and Paul Carenza (tax).
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