Early Warning Report Regarding Tekkorp Holdings LLC
Tekkorp Holdings has increased its stake in FansUnite Entertainment through a significant share purchase. The transaction involves the acquisition of 29,270,550 shares at $0.0014 per share, completed on January 16, as part of a larger 63,910,838 share purchase agreement dated September 16, 2024.
Prior to this purchase, Tekkorp held 46,708,288 common shares and 12,500,000 warrants, representing a potential 15.91% ownership if all warrants were exercised. Following the transaction, Tekkorp now controls 75,978,838 common shares and 12,500,000 warrants, which would represent 23.78% of outstanding shares if all warrants are exercised.
The acquisition was made under the 'private agreement exemption' from formal take-over bid requirements, meeting specific conditions including purchases from fewer than 5 persons and consideration value within 115% of share value.
Tekkorp Holdings ha aumentato la sua partecipazione in FansUnite Entertainment tramite un acquisto significativo di azioni. L'operazione prevede l'acquisizione di 29.270.550 azioni a $0,0014 per azione, completata il 16 gennaio, come parte di un accordo di acquisto di azioni più ampio di 63.910.838 azioni datato 16 settembre 2024.
Prima di questo acquisto, Tekkorp possedeva 46.708.288 azioni ordinarie e 12.500.000 warrant, che rappresenterebbero una potenziale proprietà del 15,91% se tutti i warrant fossero esercitati. A seguito della transazione, Tekkorp controlla ora 75.978.838 azioni ordinarie e 12.500.000 warrant, che rappresenterebbero il 23,78% delle azioni in circolazione se tutti i warrant venissero esercitati.
L'acquisizione è stata effettuata nell'ambito dell' 'esenzione da accordi privati', esente dai requisiti di offerta pubblica a seguito di specifiche condizioni, tra cui acquisti da meno di 5 persone e valore di considerazione entro il 115% del valore delle azioni.
Tekkorp Holdings ha incrementado su participación en FansUnite Entertainment a través de una compra significativa de acciones. La transacción implica la adquisición de 29,270,550 acciones a $0.0014 por acción, completada el 16 de enero, como parte de un acuerdo de compra de acciones más amplio de 63,910,838 acciones con fecha del 16 de septiembre de 2024.
Antes de esta compra, Tekkorp poseía 46,708,288 acciones ordinarias y 12,500,000 warrants, lo que representaría una propiedad potencial del 15.91% si se ejercerían todos los warrants. Tras la transacción, Tekkorp ahora controla 75,978,838 acciones ordinarias y 12,500,000 warrants, lo que representaría el 23.78% de las acciones en circulación si se ejercen todos los warrants.
La adquisición se realizó bajo la 'exención de acuerdo privado' de los requisitos de oferta pública, cumpliendo con condiciones específicas que incluyen compras de menos de 5 personas y valor de consideración dentro del 115% del valor de la acción.
테코프 홀딩스는 팬스유나이트 엔터테인먼트에 대한 지분을 상당한 주식 구매를 통해 늘렸습니다. 이 거래는 29,270,550주를 주당 $0.0014에 인수하며, 2024년 9월 16일 날짜의 63,910,838주 지분 구매 계약의 일환으로 1월 16일에 완료되었습니다.
이번 구매 이전에, 테코프는 46,708,288주 보통주와 12,500,000개의 워런트를 보유하고 있었으며, 모든 워런트를 행사할 경우 잠재적인 15.91%의 소유권을 나타냅니다. 거래 후 테코프는 현재 75,978,838주 보통주와 12,500,000개의 워런트를 보유하고 있으며, 모든 워런트를 행사할 경우 이는 발행주식의 23.78%를 나타냅니다.
이 인수는 '개인 계약 면제'를 통해 공적인 인수 제안 요구사항이 면제되며, 5명 미만의 구매자와 주식 가치의 115% 이내의 고려 가치가 충족되는 등의 특정 조건을 충족했습니다.
Tekkorp Holdings a augmenté sa participation dans FansUnite Entertainment grâce à un achat d'actions significatif. La transaction implique l'acquisition de 29 270 550 actions à 0,0014 $ par action, complétée le 16 janvier, dans le cadre d'un accord d'achat d'actions plus large de 63 910 838 actions daté du 16 septembre 2024.
Avant cet achat, Tekkorp détenait 46 708 288 actions ordinaires et 12 500 000 bons de souscription, représentant une possession potentielle de 15,91 % si tous les bons étaient exercés. Suite à la transaction, Tekkorp contrôle désormais 75 978 838 actions ordinaires et 12 500 000 bons de souscription, ce qui représenterait 23,78 % des actions en circulation si tous les bons étaient exercés.
L'acquisition a été réalisée dans le cadre de l' 'exemption d'accord privé' des exigences de l'offre publique d'achat, répondant à des conditions spécifiques, y compris des achats auprès de moins de 5 personnes et une valeur de contrepartie correspondant à 115 % de la valeur des actions.
Tekkorp Holdings hat seinen Anteil an FansUnite Entertainment durch einen bedeutenden Aktienkauf erhöht. Die Transaktion umfasst den Erwerb von 29.270.550 Aktien zu 0,0014 $ pro Aktie, die am 16. Januar abgeschlossen wurde, als Teil einer größeren Kaufvereinbarung über 63.910.838 Aktien vom 16. September 2024.
Vor diesem Kauf hielt Tekkorp 46.708.288 Stammaktien und 12.500.000 Warrants, was einen potenziellen Besitz von 15,91 % darstellen würde, wenn alle Warrants ausgeübt werden. Nach der Transaktion kontrolliert Tekkorp nun 75.978.838 Stammaktien und 12.500.000 Warrants, was 23,78 % der ausstehenden Aktien darstellen würde, wenn alle Warrants ausgeübt werden.
Die Akquisition erfolgte im Rahmen der 'Privatverträge-Ausnahme' von den Anforderungen an öffentliche Übernahmeangebote und erfüllte spezifische Bedingungen, einschließlich Käufen von weniger als 5 Personen und einem Überprüfungspreis von bis zu 115 % des Aktienwerts.
- Significant increase in ownership stake from 15.91% to 23.78% (including warrants)
- Strategic investment at $0.0014 per share indicates confidence in company
- Extremely low share price of $0.0014 indicates significant company valuation decline
- No active market for shares suggests liquidity for investors
Vancouver, British Columbia--(Newsfile Corp. - January 20, 2025) - This news release is being disseminated as required by National Instrument 62‐103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues in connection with the filing of the Early Warning Report regarding the acquisition of securities of FansUnite Entertainment Inc. (the "Company") by Tekkorp Holdings LLC (the "Acquiror").
Pursuant to a share purchase agreement between the Company, the Acquiror, and certain shareholders of the Company (the "Vendors") dated September 16, 2024, the Acquiror purchased 63,910,838 common shares of the Company (the "Common Shares") at a price of
Prior to the Share Purchase, the Acquiror held 46,708,288 Common Shares and 12,500,000 common share purchase warrants (the "Warrants"). Assuming the exercise of all of the Warrants owned or controlled by the Acquiror prior to their expiry, it would own, control or have direction over, directly or indirectly, 59,208,288 Common Shares representing 15.91% of the issued and outstanding Common Shares.
Upon completion of the Share Purchase, the Acquiror holds control or direction over a total of 75,978,838 Common Shares, 12,500,000 Warrants. Assuming the exercise of all of the Warrants owned or controlled by the Acquiror prior to their expiry, it would own, control or have direction over, directly or indirectly, 88,478,838 Common Shares representing 23.78% of the issued and outstanding Common Shares
The 29,270,550 Purchased Shares were obtained by the Acquiror for investment purposes. In the future, the Acquiror may directly or indirectly, acquire additional Common Shares or dispose of such Common Shares subject to a number of factors, including, without limitation, general market and economic conditions and other investment and business opportunities available.
The Acquiror is relying on the "private agreement exemption" from the formal take-over bid requirements, as set out in section 4.2 of National Instrument 62-104 Take-Over Bids and Issuer Bids ("NI 62-104"). The parties are entitled to rely on this exemption as: (a) purchases are being made from not more than 5 persons in the aggregate; (b) the bid is not being made generally to securityholders of the Common Shares; and (c) there is no published market for the Common Shares, and there is a reasonable basis for determining that the value of the consideration paid for any of the Common Shares is not greater than
A copy of the Early Warning Report to be filed by the Acquiror will be available on SEDAR+ under the Company's profile on www.sedarplus.ca.
For more information, or to obtain a copy of the Early Warning Report, please contact:
Denis Silva, Counsel
Telephone: 604.313.0343
Email: denis.silva@dlapiper.com
This early warning news release is issued under the early warning provisions of Canadian securities legislation, including National Instrument 62-104 - Take-Over Bids and Issuer Bids and National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/237846
FAQ
How many shares did Tekkorp Holdings acquire in FansUnite Entertainment (FUNFF) on January 16, 2025?
What is Tekkorp's total ownership percentage in FUNFF after the January 2025 purchase?
What was the purchase price per share for FUNFF in the January 2025 transaction?
How many warrants does Tekkorp Holdings currently hold in FUNFF?
What exemption did Tekkorp use for this FUNFF share purchase?
