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Cloud Communications Company SANGOMA TECHNOLOGIES Set Terms for $125 Million

Esther Thin

Sangoma Technologies Corporation, a cloud communications company, has filed Form F-10 Registration Statement on November 16, 2021 with the U.S. Securities and Exchange Commission to announce terms for its IPO.

The company plans to raise $125 million by offering 5.5 million shares at a price range of $22.68. Assuming a successful IPO at the midpoint of the proposed price, the company expects a market capitalization of $556 million.

The company provides a complete range of integrated, in-house developed communications and collaboration solutions for businesses of all sizes. They deliver a truly one-stop solution with differentiated functionality, value, and IT management simplicity through their integrated product and services offerings.

The Markham, Canada-based company was founded in 2001 and booked $158 million in revenue for the 12 months ended September 30, 2021. It plans to list on the Nasdaq Global Select Market under the symbol “SANG.” Stanley, BMO Capital Markets, William Blair, and Canaccord Genuity are underwriters of the IPO.

The company engages Wildeboer Dellelce LLP as US Securities Counsel, and MNP LLP as Independent Auditor.

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