- LifeSpeak Inc. (LSPKF, Financial) shareholders receive $0.32 per share in cash as part of an arrangement with 17104944 Canada Inc.
- Beedie Investments Ltd. converts $15 million in loans into preferred shares of the purchaser.
- Beedie no longer holds any securities in LifeSpeak post-arrangement completion.
LifeSpeak Inc. (OTC:LSPKF) has finalized its previously announced arrangement agreement with 17104944 Canada Inc., in which shareholders received $0.32 per common share in cash. This arrangement marks a significant shift in ownership as 17104944 Canada Inc. now holds 100% of LifeSpeak's common shares.
As part of this transaction, Beedie Investments Ltd. has entered into an exchange agreement to convert its $15 million non-revolving convertible term loan, along with up to $4.2 million in bridge loans and all accrued interest, into preferred shares of the purchaser. Additionally, Beedie has swapped its common shares for the purchaser's shares on a 1:1 basis.
Prior to concluding this arrangement, Beedie held 5,073,389 common shares, representing approximately 8.58% ownership of LifeSpeak, with the potential to control up to 16,044,705 shares (28.09%) if fully converted. Following the completion of the transaction, Beedie no longer possesses any securities in LifeSpeak.
A detailed early warning report outlining the change in ownership and the conversion of relevant financial instruments will be accessible on SEDAR+ under LifeSpeak's profile. Interested parties may also obtain further information by contacting Beedie Investments Ltd. directly.
