Including consideration received by ABB
option holders, the transaction is valued at approximately $40.3M.
Notice of Entitlement of Offer sent to
Option Holders 12 August 2019
Under the share exchange agreement, the former shareholders and
option holders of Edesa own approximately 88% and the shareholders and
option holders of Stellar prior to the share exchange own approximately 12% of the combined company on a fully-diluted basis.
After giving effect to the new Stellar shares issued in the share exchange, the former shareholders and
option holders of Edesa own approximately 88% and the shareholders and
option holders of Stellar prior to the share exchange own approximately 12% of the combined company on a fully-diluted basis, calculated in accordance with the share exchange agreement.
Option holders can subscribe the shares during the subscription period by giving the payment and subscription details to their own bank.
Section Partners provides structured financing solutions that enable stock and
option holders to leverage their equity holdings to obtain cash financing in a tax-efficient manner that typically does not involve a sale of shares.
The Company has received applications from
option holders for a number of options in excess of the 225,140,625 options being offered under the Option Placement.
The classical option requires that the option writers cover all the expected loss per the difference between the current and the exercising price of the underlying asset as the
option holders begin to exercise the option.
The spun-off company has become a wholly owned subsidiary of Perion, which issued approximately 54.8m shares to ClientConnect's selling shareholders, and approximately 2.8m options to ClientConnect's
option holders, based on Perion's fully diluted share count at closing.
Aurium directors unanimously recommend that shareholders and listed
option holders vote in favour of the share and option schemes at the scheme meetings in the absence of a superior proposal and subject to an independent expert concluding that the offer is in the best interests of Aurium share and
option holders.
Under the terms of the agreement, each outstanding share of Cequent common stock will be exchanged for MDRNA common stock at an exchange ratio that implies a purchase price for Cequent shareholders of approximately $44 million, plus an additional value of $2 million to warrant and
option holders, based on the 10 day volume-weighted average price (VWAP) of MDRNA shares on March 31, 2010.
The capital is to be increased only to the extent that the beneficiary
option holders to whom stock options were allocated actually exercise their subscription rights.
