Paulson Investment Company/Methes Energies International Ltd. IPO
Tonkon Torp represented Paulson Investment Company, Inc., a national leader in public offerings of small and emerging growth companies, in the Methes Energies International Ltd. IPO that closed October 29, 2012 – the only 2012 IPO with Oregon-based counsel.
Methes Energies International is a renewable energy company. In addition to producing biodiesel from feedstocks like used cooking oil and vegetable oils at its Ontario, Canada production facilities, it sells unique small-footprint biodiesel processors that can run on a variety of feedstocks, provides feedstock and other supplies to its customers, and purchases the biodiesel output generated by its customers for resale on the market. Paulson Investment Company, Inc. was one of two managing underwriters for the IPO. Paulson drew upon its longstanding relationship with and confidence in Tonkon Torp to provide due diligence and counsel in the complex transaction.
Corporate finance and securities lawyers Tom Palmer
, Drea Schmidt
, and Marco Materazzi completed extensive due diligence on foreign operations, disclosure of unusual federal and state/provincial regulatory requirements in two countries, changes in the market for biodiesel fuels, complex EPA subsidy regulations, and adverse disclosures and market performance by comparable public biodiesel companies. Adding to the complexity was the timing of the IPO, which coincided with Hurricane Sandy and the subsequent closure of the stock exchanges. Nevertheless, the offering was successfully completed, adding another success for Paulson, which has managed or underwritten 170 securities offerings that have generated more than $1.2 billion for client companies. Tonkon Torp is pleased to provide corporate finance counsel that supports those efforts.
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