Tantalus Systems in its inaugural $50 million Shelf Prospectus and related Public Offering

On June 28, 2021, Tantalus Systems Holdings established it inaugural base shelf prospectus, enabling Tantalus to publicly offer various classes of securities having a value up of up to $50 million.

On August 12, 2021, Tantalus completed an overnight marketed public offering of common shares pursuant to a supplement to the base shelf prospectus. Under the offering, Tantalus issued common shares for gross proceeds of $10.6 million. Canaccord Genuity Corp. and Cormark Securities Inc. acted as co-leads of the offering that included Beacon Securities Limited, PI Financial Corp. and Paradigm Capital Inc. as part of the syndicate.

Tantalus is a smart grid technology company that transforms aging one-way grids into future-proofed multi-directional grids that improve the efficiency, reliability and sustainability of public power and electric cooperative utilities and the communities they serve. Tantalus’ solutions are purpose-built to allow utilities to restore power quickly after major disruptions, adapt to rapidly shifting consumer expectations and population shifts and innovate new solutions based on the adoption of distributed energy resources.

Osler, Hoskin & Harcourt LLP was counsel to Tantalus on its base shelf prospectus and public offering with a team consisting of Trevor Scott, Jason Comerford, Minji Park (Corporate), Tim Hughes and James Chang (Tax).