RE:Fire the management teamYou seem impatient .
Imagine how thes people feel - $4.65 a share.
MONTREAL, Feb. 1, 2021 /CNW/ - Persistence Capital Partners II, L.P. and Persistence Capital Partners II (International), L.P. (collectively, the "PCP Funds") today announced that on Friday, January 29, 2021, the PCP Funds acquired ownership of an aggregate of 4,696,874 common shares ("Common Shares") in the capital of Think Research Corporation ("Think") (TSXV: THNK), a company with a head office at 351 King Street East, Suite 500, Toronto, Ontario, M5A 0L6.
The Common Shares were issued to the PCP Funds in connection with the acquisition by Think on January 29, 2021 (the "Transaction") of all of the issued and outstanding shares of mdBriefCase Group Inc. ("MDB") from the PCP Funds and Jason Flowerday (the PCP Funds and Jason Flowerday collectively referred to as the "Sellers") pursuant to the terms and conditions of a share purchase agreement between Think, the Sellers, MDB and PCP GP, L.P. (as Seller Agent) dated January 18, 2021, as amended on January 29, 2021 (the "Share Purchase Agreement").
As part of the purchase price payable under the Share Purchase Agreement, the PCP Funds were issued an aggregate of 4,696,874 Common Shares (27,888 of which are being held in escrow by Think) at a deemed value of $4.65 per Common Share, representing approximately 11.41% of the issued and outstanding Common Shares. Prior to closing of the Transaction, the PCP Funds did not own, directly or indirectly, or exercises control or direction over any securities of Think.