Blue Ant Media will be in Canada in the public after the completion of the Citizen Board of Media.
The agreement will witness the list of the blue ants owned by Michael McMelan on the Toronto Stock Exchange through a reversal acquisition of the rock boat, which its management is bought at the same time.
Rock boat, which makes proverbs The great Canadian bread showAlready listed on TSX, and the agreement will see that it gets all the shares owed in Blue Ant in exchange for subordinate voting shares in the resulting business.
Once the deal is closed, the company will be renamed to Blue Ant Media Corporation, taking into account organizational approval, starting to trade on TSX, where AN Azraq shareholders have about 73.5 % of the company's shareholders and rock boats who take the rest. McMelan, who founded Blue Ant, will be the CEO, with Brad Martin, Chairman of the Board of Directors.
The reverse acquisition process-in which the company owned by the private sector is built for a listed company-allows the explorer in the stock market without keeping a traditional public subscription. The deal, based on a $ 2.25 stock price per share of blue ants, is a 125 % premium on the price of closing the rock boats on Friday.
Also, part of the agreement, Blue Ant inherits three rock producers in Canada – Productions Insight, the entertainment filled with jam, and the appropriate TV, which collectively achieved $ 118 million in revenue in 2024, based on uninterrupted results.
Plue Ant is located in Toronto, and has Los Angeles, New York, Washington, London, Sidney and Singapore. The revenue of a Canadian $ 19 in the fiscal year ended on August 31, 2024, a 16 % increase on an annual basis, and achieved $ 18 million of net income.
The new Blue Blue Ant will receive a minimum of $ 25.5 million for cash balance and working capital, about $ 11.6 million from the ownership of the initial group of boats and many other financial guarantees.
Fairfax Financial Holdings, a Blue ANT contributor, has supported the offer by Buckst Forestb's commitment of $ 20 million, which reduces the ownership shares of blue shareholders on ants and boats if completed. It will also buy the interest of the boat minority in the initial group of about $ 17 million.
“This is an opportunistic moment until Blue Ant is publicly published, which paves the way to create value in the long run,” McMilalan said. “We are confident that this transaction will open a great value for all shareholders. Through a mix of our general list, a reinforced public budget, and a net post -transport net, we believe that we are in a strategic position for profitable global growth, both organically and through M & A.”
