Apteryx Imaging Inc. to be Acquired by Planet DDS, a Portfolio Company of Level Equity

Vancouver, BC – June 15, 2020 – Apteryx Imaging Inc. ( " Apteryx " or the " Company " ) is pleased to announce that it has entered into an arrangement agreement (the " Arrangement Agreement " ) with PDDS Buyer, LLC ( " Planet DDS " ), a portfolio company of Level Equity Management, LLC ( " Level Equity " ), pursuant to which a Planet DDS subsidiary will acquire 100% of the Company ' s outstanding common and preferred shares (collectively, the " Shares " ) for CAD$0.65 per Share (the " Consideration " ) in an all-cash transaction (the " Transaction " ). The price per share implies an aggregate equity value for Apteryx of approximately CAD$39.0 million. " We believe this transaction represents an excellent outcome for Company shareholders, " said Avi Naider, Apteryx Executive Chairman of the board of directors. He added, " Planet DDS has been a growing and valuable distribution partner for the Company ' s XVWeb software platform for several years. After a thorough review by an independent special committee of our board of directors, whose mandate was to review our strategic options, capital needs, capital structure and future strategic direction of the Company, we concluded that the combination with Planet DDS would provide the capital, management and clarity of focus to optimize the growth and performance of Apteryx and offers compelling value for our shareholders. " " Planet DDS has been our most productive cloud partner and instrumental in our overall growth, " stated Ap...
Source: Dental Technology Blog - Category: Dentistry Source Type: news