Apollo Funds to Acquire Additional Common Shares of ABC Technologies Holdings Inc.
Retrieved on:
Monday, February 14, 2022
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(the Purchaser), an affiliate of certain funds managed by affiliates of Apollo Global Management, Inc. (the Apollo Funds), announced today that, on February 11, 2022, it entered into purchase agreements (the Agreements) to purchase up to 10,000,000 common shares (the Common Shares) of ABC Technologies Holdings Inc. (ABC) from affiliates of Coliseum Capital Management, LLC (the Seller).
Key Points:
- (the Purchaser), an affiliate of certain funds managed by affiliates of Apollo Global Management, Inc. (the Apollo Funds), announced today that, on February 11, 2022, it entered into purchase agreements (the Agreements) to purchase up to 10,000,000 common shares (the Common Shares) of ABC Technologies Holdings Inc. (ABC) from affiliates of Coliseum Capital Management, LLC (the Seller).
- The Purchaser will pay CAD$6.25 for each Common Share acquired, representing aggregate consideration of CAD$62,500,000.00 for both the Initial Transaction Shares and the Rights Shares.
- The Apollo Funds and their affiliates currently beneficially own or control, directly or indirectly, 31,168,685 Common Shares, representing approximately 53.9% of the 57,790,064 issued and outstanding Common Shares on a non-diluted basis.
- Following the closing of the Rights Offering and the transactions contemplated by the Agreements and assuming (i) the Apollo Funds maintain their 53.9% ownership of ABC (and do not acquire additional Common Shares under the additional subscription privilege under the Rights Offering or the previously announced standby purchase agreement entered into in connection with the Rights Offering), and (ii) the Apollo Funds acquire the Rights Shares, the Apollo Funds and their affiliates will beneficially own or control, directly or indirectly, 72,337,370 Common Shares, representing approximately 62.6% of the issued and outstanding Common Shares on a non-diluted basis (assuming 115,580,128 Common Shares are issued and outstanding following the closing of the Rights Offering).