Home Capital Obtains Final Court Approval for Arrangement to Be Acquired by Smith Financial Corporation

Feb 09, 2023

Home Capital Group Inc. (“Home Capital”) (TSX: HCG) today announced that it has obtained a final order from the Ontario Superior Court of Justice (Commercial List) approving the previously-announced plan of arrangement under the Business Corporations Act (Ontario) (the “Arrangement”). Under the Arrangement, a wholly owned subsidiary (the “Purchaser”) of Smith Financial Corporation (“SFC”), a company controlled by Stephen Smith, has agreed to acquire the issued and outstanding common shares of Home Capital that SFC does not already own for $44.00 in cash per share (the “Purchase Price”), subject to increase in certain circumstances described below.

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