DALR DEAL21 Jun 2018 19:05
Under the terms of the Arrangement Agreement, each Dalradian shareholder (other than the Remaining Shareholders) (the "Affected Dalradian Shareholders") will receive cash consideration of C$1.47 for each Dalradian Share held (the "Consideration"), valuing Dalradian's total equity at approximately C$537 million, on a fully diluted in-the-money basis. The Consideration represents a 62% premium to the closing price of the Dalradian Shares on the Toronto Stock Exchange (the "TSX") on June 20, 2018 and a 49% premium to the volume weighted average price ("VWAP") of the Dalradian Shares over the last 30 trading days.
Benefits to Dalradian Shareholders
Immediate and significant premium of approximately 62% to the closing price of the Dalradian Shares on June 20, 2018, and approximately 49% based on the 30-day VWAP.
All cash offer that is not subject to a financing condition.
Strong deal certainty with support agreements accounting for a total of approximately 31.4% from directors and senior officers of Dalradian, certain funds, Orion and the Remaining Shareholders.
This should be next.