The Online Investor
Investment Companies & Venture Capital M&A image Investment Companies & Venture Capital M&A » By The Online Investor Staff, updated Tue., Jul. 14, 9:07 AM Recent mergers and acquisitions in the Investment Companies & Venture Capital M&A category.

Slide #26. Smart Employee Benefits Inc. Logitek Technology Ltd.

Acquirer: Smart Employee Benefits Inc. (CVE:SEB.CA)
Acquiree: Logitek Technology Ltd.
Details: SEB has reached an agreement to acquire Logitek Technology Ltd. QLogitek shareholders, as part of the purchase price conditions, will receive 6,809,240 SEB shares and 1,000,000 Share Purchase Warrants. The shares will be escrowed over a period of 30 months released in various amounts at 6 month intervals. The Warrants have a term of 42 months and an escalating exercise price every 12 months of $0.45, $0.55 and $0.65 during the first three years of the term. The Warrants are tied to performance parameters over 36 months equating to cumulative revenue and EBITDA targets of $15.0 million and $3.0 million, respectively. The purchase price also includes a five year Convertible Note with an annualized interest rate of 3% and an escalating conversion price of $0.45, $0.55, $0.65, $0.70 and $0.75 from years one through five. SEB will also assume net debt of $72,283 and transfer to the QLogitek shareholders approximately $724, 141 of non-core QLogitek assets. The net purchase price to SEB is approximately $2,766,913.

Smart Employee Benefits is a capital pool corporation engaged in the identification, evaluation, and acquisition of assets, properties or businesses or participation therein subject, in certain cases, to shareholder approval and acceptance by the Exchange.

Open the SEB.CA Page at The Online Investor »

Company Name: 
Smart Employee Benefits Inc
Website: 
www.seb-inc.com
Sector: 
Application Software
 

Open the SEB.CA Page at The Online Investor (in a new window) »

Quotes delayed 20 minutes


Investment Companies & Venture Capital M&A - Slide 26 of 27 Page | www.TheOnlineInvestor.com

Copyright © 1998 - 2020, All Rights Reserved
Nothing in The Online Investor is intended to be investment advice, nor does it represent the opinion of, counsel from, or recommendations by BNK Invest Inc. or any of its affiliates, subsidiaries or partners. None of the information contained herein constitutes a recommendation that any particular security, portfolio, transaction, or investment strategy is suitable for any specific person. All viewers agree that under no circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held liable for any loss or damage caused by your reliance on information obtained. By visiting, using or viewing this site, you agree to the following Full Disclaimer & Terms of Use and Privacy Policy. Video widget and stock market videos powered by Market News Video. Quote data delayed at least 20 minutes; data powered by Ticker Technologies, and Mergent. Contact The Online Investor; Meet Our Editorial Staff.