On December 29, 2023, Docebo Inc. announced the results of its substantial issuer bid to repurchase for cancellation up to US$100,000,000 of its outstanding common shares for US$55.00 per common share. The offer expired at 5:00 p.m. (Eastern Time) on December 28, 2023.

All of the terms and conditions of the offer have been complied with or waived and, based on a preliminary count by TSX Trust Company (the “Depositary”), a total of 19,347,735 common shares were properly tendered to the offer. 

Intercap Equity Inc., representing approximately 43 percent of Docebo’s issued and outstanding common shares, tendered all of its common shares to the offer. Following the offer, Intercap is expected to own 12,670,522 common shares, representing approximately 41.79 percent of Docebo’s issued and outstanding common shares.