The company will not receive any of the proceeds from the sale

That own their own brand have a fighting chance in the future.The 16.7 million shares offered in the IPO were sold by Searchlight and the founding shareholders, according to a company filing. The company will not receive any of the proceeds from the sale, it states.The IPO was led by Toronto Dominion Bank, Credit Suisse Group AG and Bank of Montreal. The banks have the option of purchasing additional shares that could bring the proceeds of the offering up to $230 million if exercised.Following the IPO, Searchlight will control 48 per cent of the company while the founders will own about 12 per cent, according to the filing.

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