- Spectra7 Microsystems (SPVNF) completes asset sale to Parade Technologies for US$9 million.
- Shareholders to receive a special distribution including cash and CVRs.
- Company set for delisting from TSXV on April 28, 2025.
Spectra7 Microsystems Inc. (SPVNF) has finalized the sale of nearly all its assets to Parade Technologies for US$9 million in cash. Upon closing, Parade paid Spectra7 a net cash amount of US$6.44 million after accounting for bridge loans and an escrow of US$1.8 million set aside for potential indemnity claims.
The company plans to distribute the proceeds to shareholders and holders of pre-funded warrants via a special distribution on April 28, 2025. This distribution will consist of approximately US$1.07 million in cash, equating to US$0.0039 per share. An additional US$1.8 million, or US$0.0065 per share, may be distributed to contingent value right (CVR) holders following the release of escrow funds, expected around April 2026.
Spectra7's common shares are scheduled for delisting from the TSX Venture Exchange (TSXV) on or about April 28, 2025. This action follows shareholder approval obtained on April 17, 2025, and remains subject to final approval from the TSXV.
