- EXFO Inc’s EXFO founder and majority shareholder, Germain Lamonde, has inked an agreement to acquire the remaining subordinate voting shares of EXFO for $6 per share via 11172239 Canada Inc.
- The purchase price signifies a 62% premium to the Friday closing price of $3.70.
- EXFO’s shares will cease to trade on the NASDAQ and will become a private company under the agreement.
- National Bank of Canada will serve as the Administrative Agent of the lending syndicate for the senior debt financing. National Bank Financial Markets will be the Lead Arranger and Sole Bookrunner.
- Lamonde held 61.46% EXFO and 93.53% of the voting rights as of June 7.
- Price action: EXFO shares are up 60.8% at $5.95 on the last check Monday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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