On December 19, 2024, Banxa Holdings Inc., a TSXV-listed issuer which is among the leading infrastructure providers enabling embedded crypto within payment platforms, entered into an arrangement agreement with 1493819 B.C. Ltd. (the “Purchaser”), a private, British Columbia-based company controlled by certain principals of Banxa, pursuant to which the Purchaser agreed to acquire all of the issued and outstanding common shares of Banxa, other than those shares held by certain rolling shareholders, for a purchase price of $1.00 per share, payable in cash.
The transaction, which includes a go-shop, will be effected by way of a court-approved plan of arrangement and is expected to close in the first quarter of 2025, subject to regulatory approvals and other customary closing conditions.
Cassels is acting for the Purchaser.