Carebook Technologies (TSXV: CRBK) is the latest name to enter a go-private transaction. The healthtech company this morning indicated that its largest shareholder, UIL Limited, has agreed to acquire the remaining interest in the company that it doesn’t currently own.
The transaction will see shareholders receive $0.10 per share in cash, which represents a 122% premium to Thursday’s $0.045 closing price of the equity. The transaction is not subject to a financing condition.
Given that UIL Limited currently owns a 59.4% interest in the company, the transaction remains subject to a simple majority of shareholders, excluding UIL, approving of the transaction. MedTech Investment, Carebook’s second largest shareholder whom owns 57.6% of the shares held by minority shareholders, has already entered into a voting support agreement for the transaction, as have the members of the firms leadership team and its board of directors.
The transaction is currently slated to close in the first quarter of 2025.
Carebook Technologies last traded at $0.045 on the TSX Venture.
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