Callidus Capital Corporation Files Final Prospectus for Initial Public Offering

/NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES/

TORONTO, April 15, 2014 /CNW/ - Callidus Capital Corporation ("Callidus"), a provider of flexible and innovative asset-based loans, is pleased to announce that it has filed a final prospectus with the securities regulatory authorities in each of the provinces and territories of Canada, in connection with its initial public offering (the "Offering") of 18,000,000 common shares, at a price of $14.00 per common share. The Offering will result in aggregate gross proceeds of $252 million.

The Offering is being made through a syndicate of underwriters led by Canaccord Genuity Corp. and including CIBC World Markets Inc., TD Securities Inc., National Bank Financial Inc., GMP Securities L.P., Desjardins Securities Inc., and Dundee Securities Ltd. (collectively, the "Underwriters").

The Underwriters have been granted an over-allotment option to purchase up to an additional 2,700,000 common shares from Callidus at a price of $14.00 per share. If the over-allotment is exercised in full, the aggregate gross proceeds to Callidus under the Offering will increase to $289.8 million. The over-allotment option can be exercised for a period of 30 days from the closing date of the Offering.

Callidus has received conditional approval for the listing of its common shares on the Toronto Stock Exchange (the "TSX"), subject to the fulfillment of all of the listing requirements of the TSX. The common shares will be listed for trading on the Toronto Stock Exchange under the symbol "CBL" and trading will begin after the closing of the Offering, which is scheduled to take place on or about April 23, 2014, subject to customary closing conditions.

This Offering is only made by prospectus. The prospectus contains important detailed information about the securities being offered. Copies of the prospectus may be obtained from any of the Underwriters named above. Investors should read the prospectus before making an investment decision.

No securities regulatory authority has either approved or disapproved the contents of this press release. This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities of Callidus Capital Corporation in any jurisdiction in which such offer, solicitation or sale would be unlawful. These securities have not been and will not be registered under the United States Securities Act of 1933, as amended or any U.S. state securities law and may not be offered or sold in the United States except in compliance with the registration requirements of said Act and applicable U.S. state securities laws or pursuant to an exemption therefrom.

About Callidus Capital Corporation

Established in 2003, Callidus Capital Corporation is a Canadian company that specializes in innovative and creative financing solutions for companies that are unable to obtain adequate financing from conventional lending institutions. Unlike conventional lending institutions who demand a long list of covenants and make credit decisions based on cash flow and projections, Callidus credit facilities have few, if any, covenants and are based on the value of the company's assets, its enterprise value and borrowing needs. Callidus employs a proprietary system of monitoring collateral and exercising control over the cash inflow and outflows of each borrower, enabling Callidus to very effectively manage any risk of loss.

Forward-Looking Statements

Certain statements made herein contain forward-looking information, including statements concerning the commencement of trading of the common shares, the closing date of the Offering and the exercise of the Over-Allotment Option. Although Callidus believes these statements to be reasonable, the assumptions upon which they are based may prove to be incorrect. Furthermore, the forward-looking statements contained in this press release are made as at the date of this press release and Callidus does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.

SOURCE: Callidus Capital Corporation

David Reese
Chief Operating Officer
[phone]
[email protected]
www.calliduscapital.ca