Brief: Timia Capital To Acquire Controlling Interest In Specialty Finance Company

Montfort Capital

12/05/2022 06:36

May 12 (Reuters) - Timia Capital Corp  TCA.V :
    * TIMIA CAPITAL TO ACQUIRE CONTROLLING INTEREST IN SPECIALTY
FINANCE COMPANY
    * ACQUISITION WILL COMPLETE BY WAY OF $7.7 MILLION CASH
PAYMENT
    * ACQUIRE APPROX 77% OF A CANADIAN-BASED LEADING PROVIDER OF
SPECIALTY FINANCE LENDING FOR A PURCHASE PRICE OF APPROX $9.24
MILLION
    * TIMIA CAPITAL - CO EXPECTS TO FINANCE ACQUISITION THROUGH
ISSUANCE OF DEBT, DOES NOT CONTEMPLATE ISSUING COMMON, PREFERRED
STOCK AS PART OF PURCHASE PRICE
    * COMBINED COMPANY PRO FORMA ASSETS SURPASS $450 MILLION
    * TIMIA CAPITAL- TRANSACTION IS ALSO SUBJECT TO A BREAK FEE
OF
$200,000 PAYABLE BY TIMIA CAPITAL IF THE TRANSACTION DOES NOT
CLOSE BEFORE JUNE 30, 2022
    * ACQUISITION IS EXPECTED TO BE ACCRETIVE FOR TIMIA
SHAREHOLDERS
WITHIN ONE YEAR OF CLOSING OF DEAL
    * NAME OF TARGET WILL ONLY BE DISCLOSED AFTER CLOSING OF
TRANSACTION, WHICH IS EXPECTED ON OR AROUND JUNE 30, 2022

Source text for Eikon:  ID:nCNWrffV8a 
Further company coverage:  TCA.V 

 ((Reuters.Briefs@thomsonreuters.com;))