Blackline Safety Shareholders Approve Arrangement with Francisco Partners
Blackline Safety Corp. (“Blackline” or the “Company”) (TSX:BLN), a global leader in connected safety technology, today announced that shareholders of the Company (the “Shareholders”) have approved the previously announced plan of arrangement (the "Arrangement") with an affiliate of Francisco Partners Management, L.P. (the "Purchaser") at a special meeting of Shareholders held today (the "Meeting"). Pursuant to the Arrangement, the Purchaser will acquire: (I) all of the issued and outstanding shares of the Company (“Shares”) (other than in respect of certain Shares that will be rolled over for equity of the Purchaser or an affiliate thereof (the "Rollover Shares")) for up to $9.50 per Share, comprised of $9.00 per Share in cash on closing of the Arrangement plus a contingent value right of up to $0.50 per Share; and (ii) all of the Rollover Shares for equity of the Purchaser or an affiliate thereof.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260615573442/en/ Blackline Safety headquarters in Calgary, Alberta.
The special resolution approving the Arrangement required approval by at least: (i) 66 2/3% of the votes cast by Shareholders present in person or represented by proxy at the Meeting; and (ii) a simple majority of the votes cast by Shareholders present in person or represented by proxy at the Meeting, excluding those votes attached to Shares held by Shareholders required to be excluded pursuant to Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions ("MI 61-101").
