Clairvest Group Inc. (TSX: CVG) and Discovery Air Inc. (TSX: DA.A) have entered into a definitive agreement pursuant to which Clairvest, along with certain management shareholders, will acquire all the issued and outstanding shares of Discovery Air.
Clairvest will indirectly acquire all of the issued and outstanding Class A shares and Class B shares of Discovery Air not already owned for $0.20 per share. The total transaction consideration is approximately $1.5 million.
Clairvest, Clairvest Equity Partners IV Limited Partnership, Clairvest Equity Partners IV-A Limited Partnership, CEP IV Co‐Investment Limited Partnership, control approximately 86% of Discovery Air’s shares and approximately $110 million of Discovery Air’s secured convertible debentures, representing a significant portion of Discovery Air’s third party debt.
photo credit: Discovery Air
Ted is the architect of CVCA infobase, and is the architect of CPE Media's Financings.ca, Canada's most sophisticated and advanced all private capital and public market financing database.
Latest posts by Ted Liu (see all)
- Praemo secures $3.5M Series A led by McRock Capital - August 22, 2019
- Drop announces US $44M Series B led by HOF Capital - August 22, 2019
- H1 2019 – Owen Bird and Torys leading law firms in exempt financing - August 21, 2019