Brief: VIQ Solutions Accelerates M&A Strategy With Accretive Acquisition Of U.S. Digital Media Content And Transcription Provider

VIQ Solutions

04/02/2020 15:08

Feb 4 (Reuters) - VIQ Solutions Inc  VQS.V :
    * VIQ SOLUTIONS ACCELERATES M&A STRATEGY WITH ACCRETIVE
ACQUISITION OF A LEADING U.S. DIGITAL MEDIA CONTENT AND
TRANSCRIPTION PROVIDER
    * VIQ SOLUTIONS INC - PURCHASE PRICE PAID FOR ASC
ACQUISITION WAS
$6.9 MILLION
    * VIQ SOLUTIONS INC - TRANSACTION IS EXPECTED TO BE
IMMEDIATELY
ACCRETIVE TO VIQ'S OPERATING INCOME AND NET EARNINGS
    * VIQ SOLUTIONS INC - ACQUISITION IS NON-DILUTIVE
    * VIQ SOLUTIONS INC - FUNDED ACQUISITION THROUGH A DRAWDOWN
OF
APPROXIMATELY $3.1 MILLION IN DEBT CAPITAL PURSUANT TO AN $11.5
MILLION DEBT FACILITY
    * VIQ SOLUTIONS INC -  ENTERED INTO AN AMENDMENT TO DEBT
FACILITY
ENTERED INTO ON NOVEMBER 28, 2018 WITH CROWN CAPITAL PARTNER
FUNDING, LP
    * VIQ SOLUTIONS INC - AMENDMENT PROVIDES THAT COMPANY WILL
ISSUE
450,000 NEW COMMON SHARE PURCHASE WARRANTS
    * VIQ SOLUTIONS INC - EACH NEW CROWN WARRANT IS EXERCISABLE
TO
ACQUIRE ONE COMMON SHARE IN CAPITAL OF COMPANY AT A PRICE PER
SHARE EQUAL TO CAD$2.06
    * VIQ SOLUTIONS INC - ISSUANCE OF NEW CROWN WARRANTS IS
SUBJECT TO
APPROVAL OF TSXV

Source text for Eikon:  urn:newsml:reuters.com:*:nBwXGYnfa
Further company coverage:  VQS.V 

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