Court Grants Final Order to Converge Approving Acquisition by H.I.G. Capital
Converge Technology Solutions Corp. (TSX: CTS) (OTCQX: CTSDF) has received final approval from the Ontario Superior Court of Justice for its previously announced acquisition by H.I.G. Capital affiliate. The arrangement involves 16728421 Canada Inc. purchasing all issued and outstanding common shares of Converge, except for certain shares held by shareholders with rollover equity agreements.
The transaction, governed by an arrangement agreement dated February 6, 2025, and amended April 1, 2025, has now secured all necessary regulatory approvals. The deal is expected to close around April 22, 2025. Shareholders requiring assistance with share submission can contact Computershare Investor Services Inc., the designated depositary for the arrangement.
Converge Technology Solutions Corp. (TSX: CTS) (OTCQX: CTSDF) ha ricevuto l'approvazione finale dalla Corte Superiore di Giustizia dell'Ontario per l'acquisizione precedentemente annunciata da parte di un affiliato di H.I.G. Capital. L'accordo prevede che 16728421 Canada Inc. acquisti tutte le azioni ordinarie emesse e in circolazione di Converge, ad eccezione di alcune azioni detenute da azionisti con accordi di rollover azionario.
La transazione, regolata da un accordo stipulato il 6 febbraio 2025 e modificato il 1° aprile 2025, ha ottenuto tutte le necessarie approvazioni normative. La chiusura dell'operazione è prevista intorno al 22 aprile 2025. Gli azionisti che necessitano assistenza per la presentazione delle azioni possono contattare Computershare Investor Services Inc., il depositario designato per l'accordo.
Converge Technology Solutions Corp. (TSX: CTS) (OTCQX: CTSDF) ha recibido la aprobación final de la Corte Superior de Justicia de Ontario para su adquisición previamente anunciada por una filial de H.I.G. Capital. El acuerdo implica que 16728421 Canada Inc. compre todas las acciones ordinarias emitidas y en circulación de Converge, excepto ciertas acciones en manos de accionistas con acuerdos de rollover de capital.
La transacción, regida por un acuerdo fechado el 6 de febrero de 2025 y enmendado el 1 de abril de 2025, ha obtenido todas las aprobaciones regulatorias necesarias. Se espera que la operación se cierre alrededor del 22 de abril de 2025. Los accionistas que necesiten ayuda para la entrega de acciones pueden contactar a Computershare Investor Services Inc., el depositario designado para el acuerdo.
Converge Technology Solutions Corp. (TSX: CTS) (OTCQX: CTSDF)는 H.I.G. Capital 계열사가 이전에 발표한 인수를 위해 온타리오 고등법원의 최종 승인을 받았습니다. 이번 거래는 16728421 Canada Inc.가 롤오버 지분 계약이 체결된 일부 주주가 보유한 주식을 제외한 Converge의 모든 발행 및 유통 보통주를 매입하는 내용입니다.
2025년 2월 6일에 체결되고 2025년 4월 1일에 수정된 합의 계약에 따라 진행되는 이 거래는 모든 필요한 규제 승인을 완료했습니다. 거래 종료는 2025년 4월 22일경으로 예상됩니다. 주식 제출에 도움이 필요한 주주는 이번 합의의 지정 예탁기관인 Computershare Investor Services Inc.에 연락할 수 있습니다.
Converge Technology Solutions Corp. (TSX : CTS) (OTCQX : CTSDF) a obtenu l'approbation finale de la Cour supérieure de justice de l'Ontario pour son acquisition précédemment annoncée par une filiale de H.I.G. Capital. L'accord prévoit que 16728421 Canada Inc. achète toutes les actions ordinaires émises et en circulation de Converge, à l'exception de certaines actions détenues par des actionnaires bénéficiant d'accords de roulement de capitaux propres.
La transaction, régie par un accord daté du 6 février 2025 et modifié le 1er avril 2025, a désormais obtenu toutes les approbations réglementaires nécessaires. La clôture de l'opération est prévue aux alentours du 22 avril 2025. Les actionnaires nécessitant de l'aide pour la remise des actions peuvent contacter Computershare Investor Services Inc., le dépositaire désigné pour l'accord.
Converge Technology Solutions Corp. (TSX: CTS) (OTCQX: CTSDF) hat die endgültige Genehmigung des Superior Court of Justice von Ontario für die zuvor angekündigte Übernahme durch eine Tochtergesellschaft von H.I.G. Capital erhalten. Die Vereinbarung sieht vor, dass 16728421 Canada Inc. alle ausgegebenen und ausstehenden Stammaktien von Converge erwirbt, mit Ausnahme bestimmter Aktien, die von Aktionären mit Rollover-Beteiligungsvereinbarungen gehalten werden.
Die Transaktion, geregelt durch eine Vereinbarung vom 6. Februar 2025, die am 1. April 2025 geändert wurde, hat nun alle erforderlichen behördlichen Genehmigungen erhalten. Der Abschluss der Transaktion wird für etwa 22. April 2025 erwartet. Aktionäre, die Unterstützung bei der Einreichung ihrer Aktien benötigen, können sich an Computershare Investor Services Inc., den benannten Depotverwalter der Vereinbarung, wenden.
- All regulatory approvals for the acquisition have been obtained
- Court has granted final order approving the acquisition
- None.
Subject to the satisfaction or waiver, where permitted, of the remaining conditions to closing contained in the arrangement agreement entered into between the Company and the Purchaser dated February 6, 2025, as amended by the amending agreement dated April 1, 2025 (collectively, the "Arrangement Agreement"), it is anticipated that the Arrangement will be completed by the parties on or about April 22, 2025.
The Company also announced that all regulatory approvals necessary for completion of the Arrangement have now been obtained.
Questions for Depositary
Shareholders who have questions or require assistance submitting their Shares in connection with the Arrangement may direct their questions to Computershare Investor Services Inc., which is acting as depositary in connection with the Arrangement, at 1-800-564-6253 (toll-free within
About Converge
Converge Technology Solutions Corp. is reimagining the way businesses think about IT—a vision driven by people, for people. Since 2017, we've focused on delivering outcomes-driven solutions that tackle human- centered challenges. As a services-led, software-enabled, IT & Cloud Solutions provider, we combine deep expertise, local connections, and global resources to deliver industry-leading solutions.
Through advanced analytics, artificial intelligence (AI), cloud platforms, cybersecurity, digital infrastructure, and workplace transformation, we empower businesses across industries to innovate, streamline operations, and achieve meaningful results. Our AIM (Advise, Implement, Manage) methodology ensures solutions are tailored to our customers' specific needs, aligning with existing systems to drive success without complexity.
Discover IT reimagined with Converge—where innovation meets people. Learn more at convergetp.com.
Forward-Looking Information
This press release contains certain "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of applicable Canadian securities legislation regarding Converge and its business. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected" "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts". "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements.
Specifically, statements regarding the completion of the Arrangement and other statements that are not statements of historical facts are considered forward-looking information. The anticipated dates indicated may change for a number of reasons, including the necessity to extend the time limits for satisfying the other conditions for the completion of the Arrangement. The forward-looking information are based on management's opinions, estimates and assumptions. While these opinions, estimates and assumptions are considered by the Company to be appropriate and reasonable in the circumstances as of the date of this press release, they are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, levels of activity, performance, or achievements to be materially different from those expressed or implied by such forward-looking information.
The forward-looking information are subject to significant risks including, without limitation: risks relating to the completion of the Arrangement and general economic conditions.
If any of these risks or uncertainties materialize, or if the opinions, estimates or assumptions underlying the forward-looking information prove incorrect, actual results or future events might vary materially from those anticipated in the forward-looking information. Although the Company has attempted to identify important risk factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other risk factors not presently known to the Company or that the Company presently believes are not material that could also cause actual results or future events to differ materially from those expressed in such forward-looking information.
There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, you should not place undue reliance on forward-looking information, which speaks only as of the date made. The forward- looking information contained in this press release represents the Company's expectations as of the date specified herein, and are subject to change after such date. However, the Company disclaims any intention or obligation or undertaking to update or revise any forward-looking information or to publicly announce the results of any revisions to any of those statements, whether as a result of new information, future events or otherwise, except as required under applicable securities laws.
All of the forward-looking information contained in this press release is expressly qualified by the foregoing cautionary statements.
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SOURCE Converge Technology Solutions Corp.
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