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Canada-listed automation company ATS Corporation prices US IPO at $41

May 25, 2023

ATS Corporation, a Canadian maker of factory tooling and automation systems, raised $246 million by offering 6 million shares at $41, below the as-converted last close of its shares on the Toronto Stock Exchange ($43.31).

ATS designs, manufactures, assembles, and services automation systems worldwide, serving customers in a range of end markets including life sciences, transportation, food & beverage, consumer products, and energy. In the fiscal year ended March 31, 2023, the company states that it reported record revenues and generated record Order Bookings.

ATS Corporation plans to list on the NYSE under the symbol ATS. Goldman Sachs, J.P. Morgan, TD Cowen, and Scotia Capital acted as joint bookrunners on the deal.