RE:InterestingAurora has offered to acquire BTi through a share for share transaction in the amount of $16.2 million (Canadian dollars), based on an Aurora share price of $0.20.
The Offer is made under a Share Purchase Agreement between the shareholders of BTi and Aurora (the "Offer"). Aurora's Offer has been initially accepted by 63% of all BTi shareholders, including 81% of its preference shareholders, which provides the pathway to acquire all of the shares of BTi based on its shareholder arrangements.
The purchase price of the Offer is segmented into a fixed and a variable amount of $13.4M and $2.8M respectively. The purchase price of the Offer is segmented into a fixed and a variable amount of $13.4M and $2.8M respectively.
The total consideration to be issued by Aurora to the BTi shareholders will not exceed 81,000,000 common shares. The variable amount is subject to customary business performance adjustments that could reduce the variable amount. This Offer includes a 16-month escrow period for the common shares issued to BTi’s shareholders in which the shares are released in equal tranches, each at four, 10 and 16 months from the closing of the transaction.
Take away: Assuming the terms did not change then the financing is a tad short of the $2.8M...
And in line with the initiall terms...
https://aurorasolartech.com/aurora-solar-technologies-to-acquire-bt-imaging-to-accelerate-growth/