OneSoft Solutions Inc. Announces the Completion of Its Acquisition by Irth Solutions LLC, a Blackstone Portfolio Company
OneSoft Solutions has completed its acquisition by Irth Solutions, a Blackstone portfolio company, following the final court approval. The transaction closed on November 1, 2024, with Irth acquiring all outstanding OneSoft shares for $0.88 per share, representing a total cash equity value of approximately CDN $113.4 million on a fully diluted basis. The shares will be delisted from the TSX Venture Exchange, and OneSoft will cease to be a reporting issuer. Shareholders with registered shares through intermediaries should expect payment automatically, while registered shareholders need to submit their Letter of Transmittal for payment processing.
OneSoft Solutions ha completato l'acquisizione da parte di Irth Solutions, una società del portafoglio di Blackstone, a seguito dell'approvazione finale da parte del tribunale. La transazione si è conclusa il 1 novembre 2024, con Irth che ha acquisito tutte le azioni in circolazione di OneSoft per 0,88 $ per azione, che rappresenta un valore totale di capitale in contante di circa 113,4 milioni di dollari canadesi su base completamente diluita. Le azioni saranno rimosse dalla TSX Venture Exchange e OneSoft cesserà di essere un emittente reporting. Gli azionisti con azioni registrate tramite intermediari dovrebbero aspettarsi il pagamento in modo automatico, mentre gli azionisti registrati devono presentare la loro Lettera di Trasmissione per l'elaborazione del pagamento.
OneSoft Solutions ha completado su adquisición por parte de Irth Solutions, una empresa del portafolio de Blackstone, tras la aprobación final del tribunal. La transacción se cerró el 1 de noviembre de 2024, con Irth adquiriendo todas las acciones en circulación de OneSoft por 0,88 $ por acción, lo que representa un valor total de capital en efectivo de aproximadamente 113,4 millones de dólares canadienses en una base totalmente diluida. Las acciones serán deslistadas de la TSX Venture Exchange, y OneSoft dejará de ser un emisor que informa. Los accionistas con acciones registradas a través de intermediarios deben esperar el pago automáticamente, mientras que los accionistas registrados deben presentar su Carta de Transmisión para el procesamiento del pago.
OneSoft Solutions는 최종 법원 승인 후 Irth Solutions에 의해 인수되었음을 발표했습니다. 이 거래는 2024년 11월 1일에 종료되었으며, Irth는 모든 OneSoft의 유통 주식을 주당 0.88달러에 인수하여 총 현금 자산 가치는 약 1억 1340만 캐나다 달러에 해당합니다. 주식은 TSX 벤처 거래소에서 상장 폐지되며, OneSoft는 보고 기업으로서의 지위를 잃게 됩니다. 중개인을 통해 등록된 주식을 가진 주주들은 자동으로 지급받을 것으로 예상되며, 등록된 주주들은 지급 처리를 위해 송금 요청서를 제출해야 합니다.
OneSoft Solutions a finalisé son acquisition par Irth Solutions, une société du portefeuille de Blackstone, suite à l'approbation finale du tribunal. La transaction a été clôturée le 1er novembre 2024, Irth ayant acquis toutes les actions en circulation de OneSoft pour 0,88 $ par action, représentant une valeur totale des capitaux en espèces d'environ 113,4 millions de dollars canadiens sur une base totalement diluée. Les actions seront radiées de la TSX Venture Exchange et OneSoft cessera d'être un émetteur déclarant. Les actionnaires ayant des actions enregistrées par le biais d'intermédiaires devraient s'attendre à un paiement automatique, tandis que les actionnaires enregistrés doivent soumettre leur lettre de transmission pour le traitement des paiements.
OneSoft Solutions hat seine Übernahme durch Irth Solutions, ein Portfolio-Unternehmen von Blackstone, nach der endgültigen Genehmigung durch das Gericht abgeschlossen. Die Transaktion wurde am 1. November 2024 abgeschlossen, wobei Irth alle ausstehenden OneSoft-Aktien zu einem Preis von 0,88 $ pro Aktie erworben hat, was einem Gesamtkapitalwert von etwa 113,4 Millionen Kanadischen Dollar auf vollständig verwässerter Basis entspricht. Die Aktien werden von der TSX Venture Exchange delistet, und OneSoft wird nicht mehr als berichtendes Unternehmen fungieren. Aktionäre mit registrierten Aktien über Vermittler sollten den Zahlungseingang automatisch erwarten, während registrierte Aktionäre ihr Übertragungsformular zur Zahlungsabwicklung einreichen müssen.
- All-cash acquisition at CDN $113.4 million, providing immediate liquidity to shareholders
- Premium price of $0.88 per share
- Delisting from TSXV, reducing public trading opportunities
- End of public company status, reducing transparency for existing shareholders
EDMONTON, AB / ACCESSWIRE / November 1, 2024 / OneSoft Solutions Inc. (TSXV:OSS) ("OneSoft" or the "Company") is pleased to announce receipt of the final order from the Court of King's Bench in Alberta (the "Final Order") approving the previously announced plan of arrangement (the "Arrangement") with irth Solutions LLC and its wholly owned subsidiary irth Acquisition Corp. (collectively, "Irth"), a Blackstone portfolio company (the "Transaction").
The Transaction closed on November 1, 2024. Pursuant to the terms of the Arrangement, Irth acquired all of the issued and outstanding common shares of OneSoft (the "Shares") for
Action Required by OneSoft Shareholders
Shareholders whose Shares are registered in the name of an intermediary such as a broker, investment dealer, bank, trust company or other intermediary should expect to receive payment for their Shares from their intermediary, without the need to take any further action.
Registered shareholders of the Company are reminded to submit and follow the instructions in the Letter of Transmittal that was included in the voting information meeting materials sent to shareholders prior to the Meeting. Payments to shareholders are expected to be processed imminently.
NI 62-103
Upon completion of the Arrangement, Irth holds
About Irth
Irth, a Blackstone portfolio company headquartered in Columbus, Ohio, provides enterprise software solutions for critical network infrastructure. It blends geospatial data with business intelligence and AI to offer 360-degree situational awareness. For over 25 years, Irth has served critical infrastructure operators, helping them manage damages, mitigate risk, manage compliance, and optimize asset performance through data-driven insights.
About OneSoft and OneBridge
OneBridge Solutions is the developer of Cognitive Integrity Management (CIM), an AI-powered platform that energy infrastructure owners use to manage asset integrity, predict failures, and optimize performance. OneBridge's technology is built on Microsoft Azure and incorporates machine learning, data science, and predictive analytics to improve asset safety, reduce operational costs, and ensure compliance with industry regulations. OneBridge has industry-leading clients in the U.S.A., Canada, Australia, and Colombia, including several Fortune 50, 100, and 500 companies.
Visit www.onesoft.ca and www.onebridgesolutions.com for more information.
For more information, please contact
Dwayne Kushniruk, CEO | Paul Johnston, CFO |
Forward-looking Statements
This news release contains forward-looking statements relating to the payment for the Shares and the delisting of the Shares on the TSXV. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "expects", "believe", "will", "intends", "plans" and similar expressions. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Such forward-looking information is provided to deliver information about management's current expectations and plans relating to the future. Investors are cautioned that reliance on such information may not be appropriate for other purposes, such as making investment decisions.
In respect of the forward-looking information and statements the Company has placed reliance on certain assumptions that it believes are reasonable, including expectations and assumptions concerning the timing of payment of the purchase price consideration and the delisting of the Shares from the TSXV. Accordingly, readers should not place undue reliance on the forward-looking information contained in this press release. Since forward-looking information addresses future events and conditions, such information by its very nature involves inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to many factors and risks.
Readers are cautioned that the foregoing list of factors is not exhaustive. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release, and the Company undertakes no obligation to update publicly or to revise any of the included forward-looking statements, whether because of new information, future events or otherwise, except as expressly required by Canadian securities law.
This news release does not constitute an offer to sell or the solicitation of an offer to buy any securities within the United States. The securities to be offered have not been and will not be registered under the U.S. Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of such Act or other laws.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
SOURCE: OneSoft Solutions Inc.
View the original press release on accesswire.com
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