Baylin Technologies Completes Initial Public Offering and Commences Trading on the TSX

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TORONTO, Nov. 27, 2013 /CNW/ - Baylin Technologies Inc. ("Baylin Technologies" or the "Company") (TSX: BYL), a global provider of innovative antenna solutions for the mobile, broadband and wireless infrastructure markets, today announced that it has completed its initial public offering (the "Offering"). Baylin Technologies' common shares will begin trading today on the Toronto Stock Exchange under the symbol "BYL".

Pursuant to the Offering, the Company issued 6,253,125 common shares at a price of $8.00 per share for total gross proceeds to Baylin Technologies of $50.0 million, including the over-allotment, which was fully exercised by the underwriters concurrently with the completion of the Offering.

"Our company has a long track record of creating game-changing advances in antenna technology," said Ephraim Ulmer, President and CEO of Baylin Technologies. "I am confident that with our market-leading technology and experienced technical and management team we can successfully unlock the next chapter of growth for Baylin."

"We are very proud to have successfully completed our IPO, a key milestone in our company's history," said Randy Dewey, Vice-Chairman of Baylin Technologies. "Building on our 35-year history as an innovation leader in the global antenna market, this IPO gives us the resources and the platform to capitalize on strong underlying market trends for our customized antenna technology."

The Offering was underwritten by a syndicate of underwriters co-led by Paradigm Capital Inc. and Raymond James Ltd., and including Cormark Securities Inc., Clarus Securities Inc., and M Partners Inc. (collectively, the "Underwriters").

Norton Rose Fulbright Canada LLP acted as legal counsel to Baylin Technologies and Osler, Hoskin & Harcourt LLP acted for the Underwriters.

A copy of Baylin Technologies' final prospectus is available on SEDAR (www.sedar.com).

Information for investors can be found by visiting baylintech.com.

Following completion of the Offering, 2385796 Ontario Inc. owns 10,721,291 common shares representing approximately 57% of the outstanding common shares of the Company.  The Chairman of Baylin Technologies, Mr. Jeffrey C. Royer, exercises control and direction over 2385796 Ontario Inc.  2385796 Ontario Inc. acquired such common shares through the exchange of its Galtronics Corporation Ltd. ordinary shares for common shares of Baylin Technologies pursuant to a reorganization described in the Offering documents.  2385796 Ontario Inc.'s head office is located at 200 Bay Street, Suite 3800, Royal Bank Plaza, South Tower, Toronto, Ontario M5J 2Z4.  2385796 Ontario Inc. holds such common shares for investment purposes and may increase or decrease its ownership depending on market or other conditions.

About Baylin Technologies

Baylin (TSX: BYL) is a global provider of innovative antenna solutions with 35 years of experience in designing, producing and supplying antennas. We strive to meet customer needs by being their trusted partner from initial design to production. Our antennas are custom engineered to meet the specifications for our customers' mobile and broadband devices and wireless infrastructure. Since our establishment in 1978, our business has grown into an international platform with operations in North America and Asia.

No securities regulatory authority has either approved or disapproved of the contents of this news release. The securities being offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in any state of the United States unless pursuant to an exemption therefrom. This press release is for information purposes only and shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

SOURCE: Baylin Technologies Inc.

Investor Relations Contacts: 

Aaron Kabucis, CFA 
TMX Equicom 
416.815.0700 x 230 
[email protected]

Craig Armitage 
TMX Equicom 
416.815.0700 x 278 
[email protected]