Origin Merchant Partners (“Origin”) acted as Exclusive Financial Advisor to TERAGO Inc. (“TERAGO” or the « Company”) in connection with the new term debt facility provided by funds managed by EdgePoint and a private placement of common shares by a group of private investors.
TERAGO entered into a new 36-month term loan with EdgePoint Investment Group Inc. (“EdgePoint”), in the principal amount of US$21.8 million (the “New Term Debt Facility”) to refinance the Company’s existing term debt facility. Concurrently, the Company completed a private placement of common shares of the Company for gross proceeds of approximately $5.3 million (the “Private Placement”) and a rights offering for gross proceeds of approximately $10.6 million (the “Rights Offering”).
The transaction marks an important milestone for TERAGO, strengthening the Company’s balance sheet and providing the financial flexibility and strategic runway to capitalize on its position as the largest holder of mmWave spectrum in Canada.
About TERAGO
TERAGO provides managed network and security services to businesses across Canada ensuring highly secure, reliable, and redundant connectivity including private 5G wireless networks, Fixed Wireless access, fiber, and cable wireline network connectivity. As Canada’s biggest mmWave spectrum holders, the Company possesses spectrum licenses in the 24 GHz and 38 GHz spectrum bands, which it utilizes to provide secure, dedicated SLA guaranteed enterprise grade performance that is technology diverse from buried cables ensuring high availability connectivity services. TERAGO serves Canadian and Global businesses operating in major markets across Canada, including Toronto, Montreal, Calgary, Edmonton, Vancouver, Ottawa and Winnipeg, and has been providing wireless services since 1999. For more information about TERAGO and its suite of wireless internet and SD-WAN solutions, please visit www.terago.ca.
Press release: TERAGO Announced Closing of Recapitalization Transactions
Deal team: Mario Di Pietro, Andrei Rojine
