Blackline Safety Announces Closing of Going Private Transaction with Francisco Partners
Blackline Safety Corp. ("Blackline" or the "Company") (TSX: BLN) a global leader in connected safety technology, is pleased to announce the completion of the previously announced plan of arrangement (the "Arrangement") pursuant to which Apollo Purchaser, Inc. (the "Purchaser") an affiliate of Francisco Partners Management, L.P. ("FP"), acquired all the issued and outstanding common shares (the "Shares") of the Company. Pursuant to the Arrangement, the Purchaser acquired: (i) all of the issued and outstanding Shares (other than in respect of certain Shares that were 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 (a "CVR") of up to $0.50 per Share; and (ii) all of the Rollover Shares for equity of the Purchaser or an affiliate thereof.
As a result of the Arrangement, the Shares will be delisted from the Toronto Stock Exchange. The Company intends to submit an application to cease to be a reporting issuer under applicable Canadian securities laws and to otherwise terminate the Company's public reporting requirements.
