Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Quote  |  Bullboard  |  News  |  Opinion  |  Profile  |  Peers  |  Filings  |  Financials  |  Options  |  Price History  |  Ratios  |  Ownership  |  Insiders  |  Valuation

Bullboard - Stock Discussion Forum Avante Corp V.XX

Alternate Symbol(s):  ALXXF

Avante Corp. is a provider of security operatives and technology enabled security solutions. The Company's activities are conducted through its subsidiaries, Avante Security Inc, Avante International Inc., Avante Holding Corp., The TOYBOXX Inc. and North Star Support Group S.R.L. It provides security services for residential and condominium customers in Toronto and Muskoka, Ontario through the... see more

TSXV:XX - Post Discussion

Avante Corp > XX and SSC halted
View:
Post by mlmack on Mar 30, 2022 9:47am

XX and SSC halted

Better deal for XX from SSC or is Fairfax going to take it out ?
Comment by mlmack on Mar 30, 2022 12:05pm
So they sold Logixx and kept the high margin residential division. Also cleaned out the old board, impressive new board including Dragon Wes. Looks like a new company with cash !!!
Comment by Possibleidiot01 on Mar 30, 2022 12:17pm
" meet the new boss , same as the old boss?" I mean the previous bosses to alter The Who lyric just a little.
Comment by nkbourbaki on Mar 31, 2022 8:41am
What a strange situation. In 2019, the first tranche of Fairfax debentures financed the purchase of ASAP to build out the Logixx platform.  A second tranche never materialized, which was understandable given that COVID turned the world upside down. Now, 3 years later, Fairfax converts their debs above FMV to block a sale of the whole company and instead back a sale of the Logixx division ...more  
Comment by deleuze68 on Mar 31, 2022 10:45am
The Fax Capital disposal I believe happened before the original buyout announcement as they received $1.35/share. I'm thinking it was done privately. The Logixx business has deteriorated significantly over the last 3 years. Margins sinking, growth plateauing, and just too much competition. Once you take out the higher margin boost it received due to Covid security work it is barely profitable ...more  
Comment by Possibleidiot01 on Mar 31, 2022 4:41pm
Any opinion on whether Fax Capital broke even , lost money or made money?
Comment by hevin on Mar 31, 2022 5:53pm
Where was it disclosed that Fairfax disposed at a $1.35? To me it doesn't make sense as they would have taken a 20-cent loss. Do you have a link to that? However I agree with everything you said after that LOL
Comment by deleuze68 on Mar 31, 2022 7:10pm
Not Fairfax but Fax Capital. Fax Capital had purchased 2 million shares last year at $1.75 but recently disposed of them at $1.35. From the most recent MD&A; The Company’s Investment Committee approved the investment in Avante in July 2021. At December 31, 2021, the Company owned 2,000,000 common shares of Avante, representing a 9.4% equity ownership interest in the company. The ...more  
Comment by hevin on Mar 31, 2022 11:37pm
Apologies Delueze! Didn't have my readers on. Fax Capital took a loss then while it appears Fairfax wants to make a tidy profit. My guess-and hope- Fairfax will push to sell the Avante piece which is more stable than logixx although lower rev (approx 20 million/yr?) for another 20 million or so which would give us all just under 2.00/share....fingers crossed and lost in fantasy...
Comment by nkbourbaki on Mar 31, 2022 10:56pm
Fair argument, for sure.  My point was mostly that you have to be careful drawing conclusions from Fairfax's actions.  Their interests often differ from minority holders.  (Look up the Fibrek saga to see what I mean.) Maybe this is normal course, but I note that Fairfax's Support Agreement stipulates they will vote against any competing acquisition proposal.
Comment by Froggy1 on Mar 31, 2022 10:35pm
Pretty good.
The Market Update
{{currentVideo.title}} {{currentVideo.relativeTime}}
< Previous bulletin
Next bulletin >

At the Bell logo
A daily snapshot of everything
from market open to close.

{{currentVideo.companyName}}
{{currentVideo.intervieweeName}}{{currentVideo.intervieweeTitle}}
< Previous
Next >
Dealroom for high-potential pre-IPO opportunities