Brief: Quisitive Announces Agreement To Sell Bankcard Usa

Quisitive Technology Solutions

27/03/2024 21:07

March 27 (Reuters) - Quisitive Technology Solutions Inc
 QUIS.V :
    * QUISITIVE ANNOUNCES AGREEMENT TO SELL BANKCARD USA
    * QUISITIVE TECHNOLOGY SOLUTIONS:  CONSIDERATION TO BE
RECEIVED BY
CO FOR SALE OF BANKCARD CONSISTS OF $40 MILLION IN CASH
    * QUISITIVE TECHNOLOGY SOLUTIONS: ENTERED INTO DEFINITIVE
STOCK
PURCHASE AGREEMENT TO SELL BANKCARD USA MERCHANT SERVICES TO
BUSA ACQUISITION CO
    * QUISITIVE TECHNOLOGY SOLUTIONS: BANKCARD TO BE LED BY
SHAWN
SKELTON AS CEO, SCOTT HARDY AS PRESIDENT WITH FELIX DANCIU
JOINING AS CFO
    * QUISITIVE TECHNOLOGY SOLUTIONS INC - SEES FISCAL YEAR 2024
REVENUE $123 MILLION - $137 MILLION
    * QUISITIVE TECHNOLOGY SOLUTIONS: CONSIDERATION CONSISTS OF
RETURN
BY ACQUIROR OF 133.1 MILLION COMMON SHARES OF CO TO UNIT OF CO
    * QUISITIVE TECHNOLOGY SOLUTIONS INC - SIGNED TERM SHEET
WITH
RESPECT TO A PROPOSED SECOND AMENDMENT AND RESTATEMENT TO ITS
EXISTING CREDIT FACILITY
    * QUISITIVE TECHNOLOGY SOLUTIONS INC - AMENDMENT WILL
PROVIDE
REDUCTION OF CO'S TERM LOAN CREDIT FACILITY FROM ABOUT US$68.6
MILLION TO US$34 MILLION
    * QUISITIVE: CONSIDERATION INCLUDES DELIVERY BY FORMER
VENDORS OF
BANKCARD OF SETTLEMENT DEAL RELEASING CO OF OBLIGATIONS TO PAY
$10 MILLION EARNOUT PAYMENT

Source text for Eikon:  ID:nGNX5lhmWm 
Further company coverage:  QUIS.V 

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