Skadden

Brookfield Reinsurance to Acquire Argo in $1.1 Billion Transaction

Retrieved on: 
Wednesday, February 8, 2023

BROOKFIELD, NEWS, Feb. 08, 2023 (GLOBE NEWSWIRE) -- Brookfield Reinsurance (NYSE, TSX:BNRE) and Argo Group International Holdings, Ltd. (“Argo”) (NYSE: ARGO) today announced they have entered into a definitive merger agreement whereby Brookfield Reinsurance will acquire Argo in an all-cash transaction valued at approximately $1.1 billion.

Key Points: 
  • BROOKFIELD, NEWS, Feb. 08, 2023 (GLOBE NEWSWIRE) -- Brookfield Reinsurance (NYSE, TSX:BNRE) and Argo Group International Holdings, Ltd. (“Argo”) (NYSE: ARGO) today announced they have entered into a definitive merger agreement whereby Brookfield Reinsurance will acquire Argo in an all-cash transaction valued at approximately $1.1 billion.
  • Sachin Shah, Chief Executive Officer of Brookfield Reinsurance, said, “The acquisition of Argo represents another milestone in the continued expansion of our insurance solutions business.
  • Under the terms of the merger agreement, Argo has agreed to suspend the payment of dividends on its common shares through the closing of the transaction.
  • Debevoise & Plimpton LLP is serving as legal advisor to Brookfield Reinsurance on this transaction.

Shockwave Medical to Acquire Neovasc

Retrieved on: 
Tuesday, January 17, 2023

VANCOUVER, BC, Jan. 17, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire -- Neovasc Inc. ("Neovasc" or the "Company") (NASDAQ,TSX: NVCN), a leader in the development of minimally invasive devices for the treatment of refractory angina, announced today that the Company has entered into a binding agreement (the “Arrangement Agreement”) with Shockwave Medical, Inc. (“Shockwave”), whereby Shockwave has agreed to acquire all of the issued and outstanding common shares (the “Common Shares”) of the Company (the “Transaction”).

Key Points: 
  • VANCOUVER, BC, Jan. 17, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire -- Neovasc Inc. ("Neovasc" or the "Company") (NASDAQ,TSX: NVCN), a leader in the development of minimally invasive devices for the treatment of refractory angina, announced today that the Company has entered into a binding agreement (the “Arrangement Agreement”) with Shockwave Medical, Inc. (“Shockwave”), whereby Shockwave has agreed to acquire all of the issued and outstanding common shares (the “Common Shares”) of the Company (the “Transaction”).
  • "Today’s announcement is good news for our stakeholders and the Reducer program," said Fred Colen, Neovasc’s President and Chief Executive Officer.
  • Piper Sandler & Co. is acting as exclusive financial advisor to Neovasc and Blake, Cassels & Graydon LLP and Skadden, Arps, Slate, Meagher & Flom LLP are acting as Canadian and U.S. legal counsel to Neovasc, respectively.
  • Perella Weinberg Partners is acting as exclusive financial advisor to Shockwave and Fenwick & West LLP and Davies Ward Phillips & Vineberg LLP are acting as U.S. and Canadian legal counsel to Shockwave, respectively.

Renowned Retailer Noah Stern Joins SANTÉ Realty Investments' Advisory Board

Retrieved on: 
Tuesday, January 17, 2023

TEMPE, Ariz., Jan. 17, 2023 /PRNewswire/ -- SANTÉ Realty Investments proudly announces the addition of Noah Stern to its Advisory Board called the Founders' Circle.

Key Points: 
  • TEMPE, Ariz., Jan. 17, 2023 /PRNewswire/ -- SANTÉ Realty Investments proudly announces the addition of Noah Stern to its Advisory Board called the Founders' Circle.
  • Mr. Stern is also a member of the External Board of Directors of Baboon to the Moon, an adventure brand with the highest-grade materials and most aesthetically pleasing bags.
  • Prior to founding Moose Knuckles Canada, Mr. Stern practiced as an M&A Attorney at the New-York based Skadden, Arps and was the Owner and President of Levy Canada Fashion Company.
  • Jim Small, CEO of SANTÉ Realty Investments said, "Mr. Stern greatly contributes to the broad set of expertise, skills, and perspective of our Advisory Board with his proven authentic leadership and valuable experience in manufacturing and retail operations."

Spectaire Inc., Innovative Emissions Monitoring Provider, to Go Public via Business Combination with Perception Capital Corp. II

Retrieved on: 
Tuesday, January 17, 2023

Companies required to report carbon emissions throughout their supply chain must accurately measure the effect of their emissions mitigation strategies.

Key Points: 
  • Companies required to report carbon emissions throughout their supply chain must accurately measure the effect of their emissions mitigation strategies.
  • Spectaire’s direct measurement technology replaces current methods of “estimating” emissions based on mileage and fuel consumption, which can overstate emissions by up to 60%.
  • Invented and patented by Spectaire scientists at M.I.T., Spectaire’s MMS device is battery-powered, cloud-connected and about the size of a small tablet.
  • They need tools to accurately track and report emissions in real time, and to reduce emissions, we must first accurately measure emissions.

Semtech Corporation Completes Acquisition of Sierra Wireless

Retrieved on: 
Thursday, January 12, 2023

Semtech Corporation (Nasdaq: SMTC ) and Sierra Wireless, Inc. (Nasdaq: SWIR) (TSX: SW) today announced the completion of Semtech’s acquisition of Sierra Wireless in an all-cash transaction representing a total enterprise value of approximately US$1.2 billion.

Key Points: 
  • Semtech Corporation (Nasdaq: SMTC ) and Sierra Wireless, Inc. (Nasdaq: SWIR) (TSX: SW) today announced the completion of Semtech’s acquisition of Sierra Wireless in an all-cash transaction representing a total enterprise value of approximately US$1.2 billion.
  • We believe that Semtech is uniquely positioned to deliver a strong product portfolio and service model to customers across high growth IoT segments.”
    Former Sierra Wireless senior leaders join the Semtech leadership team in two newly formed business groups.
  • 13548597 Canada Inc., a wholly owned subsidiary of Semtech Corporation, has acquired all of the outstanding common shares of Sierra Wireless, Inc. for US$31 per share by way of statutory plan of arrangement.
  • Sierra Wireless has requested that The Nasdaq Stock Market (“Nasdaq”) file a delisting application on Form 25 to report the delisting of the common shares of Sierra Wireless from Nasdaq.

Aquarian Closes Acquisition of Somerset Reinsurance

Retrieved on: 
Tuesday, January 10, 2023

Aquarian Holdings (“Aquarian”) today announced the closing of its acquisition of Somerset Reinsurance Limited (“Somerset Re”), a leading provider of reinsurance solutions to the U.S. life insurance and annuity market.

Key Points: 
  • Aquarian Holdings (“Aquarian”) today announced the closing of its acquisition of Somerset Reinsurance Limited (“Somerset Re”), a leading provider of reinsurance solutions to the U.S. life insurance and annuity market.
  • The transaction partners Aquarian with existing strategic investors Hannover Re, the third-largest reinsurer in the world, and Weiss Family Interests, which includes George Weiss, CEO of Weiss Multi-Strategy Advisors LLC and Somerset Re founder, each of which will retain ownership interest and involvement in Somerset Re.
  • “We are excited to have successfully closed the acquisition of our controlling interesting in Somerset Re,” said Rudy Sahay, Founder and Managing Partner at Aquarian.
  • The Aquarian platform gives us a long-term strategic partner with exceptional asset management capabilities that perfectly complements our solutions-based approach to reinsurance.”
    Aquarian Holdings Investment Management (“Aquarian Investments”) is serving as asset manager for Somerset Re.

Wejo Group Limited Enters Into Business Combination with TKB Critical Technologies 1

Retrieved on: 
Tuesday, January 10, 2023

Wejo Group Limited (NASDAQ:WEJO) (“Wejo”), a global leader in Smart Mobility for Good™ cloud and software analytics for connected, electric and autonomous mobility, today announced that it has entered into a definitive business combination agreement to combine with TKB Critical Technologies 1 (NASDAQ: USCT) (“TKB”).

Key Points: 
  • Wejo Group Limited (NASDAQ:WEJO) (“Wejo”), a global leader in Smart Mobility for Good™ cloud and software analytics for connected, electric and autonomous mobility, today announced that it has entered into a definitive business combination agreement to combine with TKB Critical Technologies 1 (NASDAQ: USCT) (“TKB”).
  • The proposed business combination is structured as a stock-for-stock merger, whereby each of Wejo and TKB will become wholly owned subsidiaries of a new holding company (“Wejo Holdings”).
  • TKB Critical Technologies 1 is a blank check company whose business purpose is to effect a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses.
  • TKB is dedicated to investing in critical technologies and the resources needed to manufacture those technologies for America and our allied nations.

Consumer Edge Secures over $60 Million in Funding from CoVenture

Retrieved on: 
Thursday, January 12, 2023

NEW YORK, Jan. 12, 2023 /PRNewswire/ -- Consumer Edge, a data insights and analytics company focused on the global consumer, announced the close of over $60 million in equity financing from funds managed by CoVenture, an asset management firm investing across the capital stack of tech-enabled companies. The funding provides Consumer Edge with additional capital to accelerate organic growth and continue executing on accretive, tuck-in acquisitions.

Key Points: 
  • The funding provides Consumer Edge with additional capital to accelerate organic growth and continue executing on accretive, tuck-in acquisitions.
  • Consumer Edge provides key stakeholders across the investment and corporate landscapes with best-in-class data insights products and tools to enable enhanced strategic decision making.
  • With its global capabilities and breadth of coverage, Consumer Edge is uniquely positioned to provide customers with multinational views on consumer spending and behavior.
  • Guggenheim Securities served as a financial advisor for Consumer Edge with Goodwin Procter serving as legal counsel.

Consumer Edge Secures over $60 Million in Funding from CoVenture

Retrieved on: 
Thursday, January 12, 2023

NEW YORK, Jan. 12, 2023 /PRNewswire/ -- Consumer Edge, a data insights and analytics company focused on the global consumer, announced the close of over $60 million in equity financing from funds managed by CoVenture, an asset management firm investing across the capital stack of tech-enabled companies. The funding provides Consumer Edge with additional capital to accelerate organic growth and continue executing on accretive, tuck-in acquisitions.

Key Points: 
  • The funding provides Consumer Edge with additional capital to accelerate organic growth and continue executing on accretive, tuck-in acquisitions.
  • Consumer Edge provides key stakeholders across the investment and corporate landscapes with best-in-class data insights products and tools to enable enhanced strategic decision making.
  • With its global capabilities and breadth of coverage, Consumer Edge is uniquely positioned to provide customers with multinational views on consumer spending and behavior.
  • Guggenheim Securities served as a financial advisor for Consumer Edge with Goodwin Procter serving as legal counsel.

Duck Creek Agrees to be Acquired by Vista Equity Partners for $2.6 Billion

Retrieved on: 
Monday, January 9, 2023

BOSTON, Jan. 09, 2023 (GLOBE NEWSWIRE) -- Duck Creek Technologies (NASDAQ: DCT), the intelligent solutions provider defining the future of property and casualty (P&C) insurance, today announces it has entered into a definitive agreement to be acquired by Vista Equity Partners (“Vista”), a leading global investment firm focused exclusively on enterprise software, data and technology-enabled businesses, for $19.00 per share, in an all-cash transaction valued at approximately $2.6 billion.

Key Points: 
  • “Duck Creek is proud to have pioneered cloud-based mission-critical systems for the P&C insurance industry to deliver a best-in-class customer experience.
  • Following the recommendation of the Special Committee, the Duck Creek Board of Directors approved the merger agreement with Vista Equity Partners.
  • Vista Equity Partners intends to finance the transaction with fully committed equity financing that is not subject to any financing condition.
  • J.P. Morgan is acting as financial advisor to Duck Creek, and Skadden, Arps, Slate, Meagher & Flom LLP is acting as legal counsel to Duck Creek.