Brief: Quorum announces acquisition of Dealermine Inc

Quorum Information Technologies

05/11/2018 12:23

Nov 5 (Reuters) - Quorum Information Technologies Inc
 QIS.V :
    * QUORUM ANNOUNCES ACQUISITION OF DEALERMINE INC.
    * QUORUM INFORMATION TECHNOLOGIES INC - DEAL FOR COMBINATION
OF
$9.625 MILLION IN CASH AND $4.375 MILLION IN QUORUM SHARES
VALUED AT $0.58 PER SHARE
    * QUORUM INFORMATION TECHNOLOGIES INC - QUORUM WILL FINANCE
$9.625
MILLION WITH $2.125 MILLION FROM CURRENT CASH RESERVES
    * QUORUM INFORMATION TECHNOLOGIES INC - BALANCE OF $7.5
MILLION
WILL BE FINANCED WITH A ONE-YEAR BRIDGE DEBT FACILITY FROM
COVINGTON CAPITAL

Source text for Eikon:  ID:nGNX8s9S2p 
Further company coverage:  QIS.V 

 ((Briefs@thomsonreuters.com;))