Canaccord Genuity Acts as Financial Advisor to Kognitiv on its Financing Transactions of C$48.5 million
Canaccord Genuity is pleased to announce that on February 2, 2022, its client Kognitiv Corporation (“Kognitiv” or the “Company”), announced that it has secured $48.5 million in financing transactions to expand its innovative collaborative-commerce ("C-commerce") platform and fund working capital.
The financings consist of a $17.5 million senior debt facility from Silicon Valley Bank (SVB) and $31 million of convertible notes. Investors in the convertible notes included Company insiders and other investors, which included Aimia Inc. (TSX: AIM) that invested $10 million. The convertible notes have the option to convert to equity at a discount to the price at which equity is offered in Kognitiv's next qualified financing round.
Kognitiv is a B2B technology growth company redefining loyalty and empowering businesses to grow, adapt, and transform with Collaborative Commerce. Kognitiv's platform and services enable businesses to build powerful marketplaces and experiences through multi-enterprise collaboration with partners, suppliers, and distributors, while unearthing new value for consumers, enhancing access to data – including zero party data – and providing greater control of the consumer journey. Headquartered in Canada, Kognitiv is processing more than $1 billion in transactions annually and has more than 190 million consumer profiles managed by a global base of blue-chip clients.
Canaccord Genuity acted as financial advisor to Kognitiv. The Canaccord Genuity team had senior support from Dan Daviau and included Mike Lauzon, Yahya Rafique, Matthew Wiebe, and Mark Gubbels from Investment Banking, David Barnes from Equity Sales, Len Sauer from Equity Capital Markets.