Joined the Board of Scorpion in 2012. Engagement began with a recapitalization and restructuring of the cap table. Following on this we commenced a business and strategic planning exercise with a view to achieving an exit in two to three years.

The next step was to develop a financing strategy. In the course of undertaking a small seed round to expand sales, we were approached by one of our partners about being acquired. Having done all of the pre-exit prep work, we were well placed for the discussion.

Led the negotiation and achieved a sale price 3.5x the seed financing valuation, and approximately $5M more than the buyer’s initial offer, in an all cash deal.

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Was brought in by the CEO as an executive board member to assist in growing the company from early stage scientific research to commercial operation. Worked hands on with the CEO and CFO to build the initial business plan, financial model and financing plan. Lead the build out of the board and implemented a governance plan.

Assisted the CEO and CFO with financing strategy and preparation, and participated in the financing effort to complete multiple angel and VC rounds of investment. Negotiated term sheets and commercial terms, and worked with counsel on closing each financing.

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Was asked to join a private company as executive Chairman to lead a public company listing by way of reverse takeover. Fully managed the process working with the founding CEO and CFO. Completed a seed round followed by a public offering and listing on the TSX. Sourced a CEO with public company experience, and built out the board.

Post-RTO, continued on as executive chair of the public company. Negotiated a management buy-out and continued on with the new control team as an independent director.

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ActiveState had been the subject of a proxy fight, with several hostile shareholder groups competing for control. Joined the Board as independent Chairman with the support of all major shareholder groups.The Board was exploring options and was considering a venture financing with two term sheets tabled. Ultimately, the decision was made to pursue a sale.

With the financing effort terminated, Raffa led the process of securing a third party investment banker to represent the company and then chaired the M&A committee on behalf of the Board.The company was successfully sold to a UK-based company in late 2003.

Was involved in all aspects of the sale working together with the President and the investment banker to prepare the due diligence package, manage the process and negotiate the sale. Was principally responsible for managing the fractious shareholder groups to ensure the deal completed.

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Was the founding CEO and President of Brightwave Technologies, a capital pool (CPC) company listed on the TSX-V. Co-led the financing of the company from seed round through to completion of its initial public offering. Post listing, co-led the merger of the company with two additional CPCs. Brightwave was the first CPC to do so on the TSX.

This was followed by a reverse-takeover (qualifying transaction) with a private life sciences company, Sophiris Biotech (then known as Protox Therapeutics). Sophiris has since raised close to $100M in venture capital, is listed on the TSX senior board (TSX:SHS) and has built a blue chip life science management team and Board, and is headquartered in San Diego, California.

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Joined the Board of Parasun in 2000. Engagement began with negotiating the termination of a failed merger transaction followed by leading a balance sheet clean-up. Subsequently worked with the CEO and Board to put in place a financing plan to raise additional capital to expand the company’s market presence in the US. The result was accelerated traction in the US and several years of strong year over year revenue growth, and improvement to margins and the bottom line.

The company’s success led to a decision to sell once the targeted revenue run rate was met. Working with the CEO and the Chairman, a plan was put in place to sell the company and a successful result was achieved 18 months later, at approximately ~1.5X the targeted sale price. Prior to this, two secondary share sale transactions were undertaken to provide liquidity to friends and family and angels.

With the Chair and CEO, co-led all aspects of the company sale including preparing the due diligence package, preparing the marketing package, identifying the buyers, managing the book, securing multiple interested parties, and negotiating the sale. Was also jointly responsible for managing legal counsel and the tax and accounting advisers.

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A corporate buyer made a soft approach to the founding CEO regarding an acquisition. Had previously worked with the CEO on an advisory engagement (business planning, finance planning and governance) and was asked to lead the process. Worked with the CEO to prepare the due diligence room, prepare the presentation materials and identify and approach potential buyers.

Approached a dozen and half companies and secured some level of engagement from a half dozen of them. Secured one Term Sheet and had two companies waiting in the wings to bid in the event the deal did not complete. Led all aspects of the sale including approaching all of the prospective buyers, managing the book and negotiating the sale. Was also co-responsible for managing legal counsel.

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A corporate buyer had made a soft approach to the founders/majority shareholders of the company regarding an acquisition. Was engaged by the founders to lead the sale of the company on their behalf. Worked with them to prepare the due diligence package, prepare the marketing package and determine valuation. Led the negotiation of the sale and oversaw legal counsel.
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A corporate buyer had made a soft approach to the two founders about an acquisition. Was approached by the founders to lead the sale of the company on their behalf. Led all aspects of the sale including working with the founders on the due diligence package, preparing the marketing package and negotiating the sale. Was also co-responsible for managing legal counsel and the tax and accounting advisors.

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Founder and initial Vice-President, Corporate Finance. Joined the company immediately following inception to negotiate the termination of a failed merger transaction. Subsequently, worked with the other two founders to reorganize the share capital and position the company for financing.

Worked with an investment bank to complete a seed round, followed by a reverse takeover and listing on the TSX-Venture Exchange. During this period, a new CEO was secured to lead the company and the financing process, and a blue chip industry Board was built.The company went on to list on the TSX senior board and has raised considerable venture capital. The company has a blue chip life science management team and Board of directors.

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