Shareholders of OneSoft Solutions Inc. Approve the Acquisition by irth Solutions LLC Pursuant to the Arrangement Agreement
OneSoft Solutions shareholders have approved the acquisition by irth Solutions at a special meeting held on October 24, 2024. The transaction, valued at approximately CDN $113.4 million, will see irth acquire all outstanding OneSoft shares for $0.88 per share in cash. The resolution received strong support with 92.3% of voted shares in favor, representing 77.3% of total outstanding shares. Final court approval is scheduled for November 1, 2024, after which OneSoft shares will be delisted from TSX Venture Exchange upon transaction completion.
I soci di OneSoft Solutions hanno approvato l'acquisizione da parte di irth Solutions in un incontro straordinario tenutosi il 24 ottobre 2024. La transazione, del valore di circa 113,4 milioni di dollari canadesi, prevede che irth acquisisca tutte le azioni ordinarie di OneSoft per $0,88 per azione in contante. La risoluzione ha ricevuto un forte sostegno con il 92,3% delle azioni votate a favore, rappresentando il 77,3% del totale delle azioni in circolazione. L'approvazione finale del tribunale è prevista per il 1° novembre 2024, dopo di che le azioni di OneSoft verranno rimosse dalla TSX Venture Exchange al completamento della transazione.
Los accionistas de OneSoft Solutions han aprobado la adquisición por parte de irth Solutions en una reunión especial celebrada el 24 de octubre de 2024. La transacción, valorada en aproximadamente 113.4 millones de dólares canadienses, verá a irth adquirir todas las acciones en circulación de OneSoft por $0.88 por acción en efectivo. La resolución recibió un fuerte apoyo con el 92.3% de las acciones votadas a favor, representando el 77.3% del total de acciones en circulación. La aprobación final del tribunal está programada para el 1 de noviembre de 2024, después de lo cual las acciones de OneSoft serán eliminadas de la TSX Venture Exchange tras la finalización de la transacción.
OneSoft Solutions의 주주들은 2024년 10월 24일 개최된 특별 회의에서 irth Solutions의 인수를 승인했습니다. 이 거래는 약 1억 1340만 캐나다 달러의 가치가 있으며, irth는 OneSoft의 모든 미발행 주식을 현금으로 주당 0.88달러에 인수하게 됩니다. 이 결의안은 92.3%의 찬성 투표를 얻으며 강력한 지지를 받았으며, 이는 총 발행 주식의 77.3%에 해당합니다. 최종 법원 승인은 2024년 11월 1일로 예정되어 있으며, 거래 완료 후 OneSoft의 주식은 TSX 벤처 거래소에서 상장 폐지될 것입니다.
Les actionnaires de OneSoft Solutions ont approuvé l'acquisition par irth Solutions lors d'une assemblée spéciale tenue le 24 octobre 2024. La transaction, d'une valeur d'environ 113,4 millions de dollars canadiens, verra irth acquérir toutes les actions en circulation de OneSoft pour 0,88 $ par action en espèces. La résolution a reçu un fort soutien avec 92,3% des actions votées en faveur, représentant 77,3% du total des actions en circulation. L'approbation finale du tribunal est prévue pour le 1er novembre 2024, après quoi les actions de OneSoft seront retirées de la Bourse TSX Venture après l'achèvement de la transaction.
Die Aktionäre von OneSoft Solutions haben die Übernahme durch irth Solutions in einer Sonderversammlung am 24. Oktober 2024 genehmigt. Die Transaktion hat einen Wert von etwa 113,4 Millionen kanadischen Dollar und sieht vor, dass irth alle ausstehenden OneSoft-Aktien für 0,88 $ pro Aktie in bar übernimmt. Der Beschluss erhielt mit 92,3% der abgegebenen Stimmen eine starke Unterstützung, was 77,3% der insgesamt ausgegebenen Aktien entspricht. Die endgültige Genehmigung durch das Gericht ist für den 1. November 2024 geplant, nach deren Erhalt die OneSoft-Aktien nach Abschluss der Transaktion von der TSX Venture Exchange delistet werden.
- High shareholder approval rate of 92.3% for the acquisition
- CDN $113.4 million total cash equity value
- $0.88 per share cash offer provides immediate liquidity for shareholders
- Delisting from TSX Venture Exchange following transaction completion
- Loss of public investment opportunity for current shareholders
EDMONTON, AB / ACCESSWIRE / October 24, 2024 / OneSoft Solutions Inc. (TSX-V:OSS) ("OneSoft" or the "Company") is pleased to announce the results of the special meeting of OneSoft shareholders (the "Shareholders") held on October 24, 2024 at 9:00 A.M. (the "Meeting") wherein Shareholders approved a special resolution (the "Arrangement Resolution") approving the plan of arrangement announced on August 12, 2024 with irth Solutions LLC and its wholly owned subsidiary irth Acquisition Corp. (collectively, "Irth"), a Blackstone portfolio company (the "Transaction"). Pursuant to the Transaction, Irth will acquire all of the issued and outstanding common shares of OneSoft (the "Shares") for
At the Meeting,
The Company is scheduled to seek final approval of the Transaction from the Court of King's Bench of Alberta on November 1, 2024 at 2:00 pm (the "Court Approval"). Closing of the Arrangement is subject to satisfaction of customary closing conditions for a transaction of this nature. Subject to the satisfaction or waiver of conditions precedent to the Transaction, closing of the Transaction is expected to occur on or about November 1, 2024. Following completion of the Transaction, the Shares will be delisted from the TSX Venture Exchange (the "TSXV").
Action Required by OneSoft Shareholders
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 packages mailed to Shareholders prior to the Meeting.
About OneSoft and OneBridge
OneSoft has developed software technology and products that have capability to transition legacy, on-premises licensed software applications to operate on the Microsoft Azure Cloud Platform. Our business strategy is to seek opportunities to incorporate data science and machine learning, business intelligence and predictive analytics to create cost-efficient, subscription-based software-as-a-service solutions. Visit www.onesoft.ca for more information.
OneSoft's wholly-owned subsidiaries, OneBridge Solutions, Inc. and OneBridge Solutions Canada Inc. (collectively, "OneBridge") develop and market revolutionary new SaaS solutions that use advanced data science and machine learning to analyze big data using predictive analytics to assist oil and gas pipeline operators to predict pipeline failures and thereby save lives, protect the environment, reduce operational costs, and address regulatory compliance requirements. OneBridge is the creator of CIM software, an AI-powered enterprise pipeline integrity management software-as-a-service solution. Visit www.onebridgesolutions.com for more information.
For more information, please contact
Dwayne Kushniruk, CEO |
| Sean Peasgood, Investor Relations |
Forward-looking Statements
This news release contains forward-looking statements relating to the Transaction, Court Approval, timing of closing of the Transaction and delisting of the Shares on the TSXV and other statements that are not historical facts. 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 at this time, including expectations and assumptions concerning, among other things: the ability to obtain necessary Court Approval, and satisfaction or waiver of conditions to closing the Transaction. 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. These include but are not limited to the risks associated with a change in applicable law, a material adverse change to OneSoft and the failure to obtain necessary Court Approval or failure of parties to satisfy conditions to closing the Transaction.
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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