BIOX Enters Into Arrangement Agreement for Going Private Transaction With Its Principal Shareholder Group and Amends Bridge Note

BIOX (TSX:BX) has announced it has signed a definitive agreement in connection with the proposed acquisition by FP Resources and CFI Ventures.
As quoted in the press release:

Pursuant to the Arrangement Agreement, the Shares would be acquired for cash consideration of $1.23 per Share (the “Consideration“) through a court approved plan of arrangement under the Canada Business Corporations Act (the “Arrangement“).  The acquisition of such Shares is  expected to exclude those Shares of the Company which may be exchanged by certain shareholders of the Company (the “Rollover Shareholders“) for shares in the capital of the Purchaser pursuant to rollover agreements (the “Rollover Agreements“) to be executed by such shareholders with the Purchaser.
The purchase price represents an approximate 105% premium over the last trading price of the Shares on the Toronto Stock Exchange (the “Exchange“) on May 15, 2017 (immediately prior to the initial announcement of the offer), and an approximate 82% premium over the 20 trading day volume-weighted average share price prior to the initial announcement.
Upon completion of the Arrangement, all of the Company’s outstanding options will be deemed to be vested, transferred to the Purchaser and cancelled, and all outstanding warrants (except those held by the Acquiror Group) will be deemed to be exercised and the underlying Shares transferred to the Purchaser, with the holders entitled to receive a cash amount equal to the amount by which the Consideration exceeds the exercise price of such options and warrants, if any. All payments are subject to applicable withholding taxes, if any.

Click here to read the full press release.