Tiny以6600万美元收购Serato，启动私募

2025-04-01 05:17

Tiny (TSXV:TINY:CA) has entered into an agreement to acquire a 66% interest in Serato Audio Research for $66M, payable through a combination of cash and Class A common shares in the capital of the company at closing.
In addition to the purchase price, the agreement provides that the sellers are eligible to receive additional contingent consideration upon satisfaction of certain total revenue growth and adjusted EBITDA performance targets within the two years following closing of the acquisition.
A break fee of $660,000 plus GST is payable in cash by the company to Serato if the acquisition is terminated in certain circumstances.
The acquisition is expected to close in the second quarter of 2025.
Concurrently with the closing of the offering, the company expects to enter into subscription agreements with certain investors pursuant to which the company will agree to sell up to $34.6M aggregate principal amount of convertible debentures of the company for aggregate gross proceeds of up to $32M. The net proceeds will be used to finance a portion of the cash component of the purchase price.
The company also announced its FY24 and Q4 preliminary results where its expects to clock total revenue of $194.2M with adjusted EBITDA of $28.5 to $32.5M for the full year.
Q4 total revenue is expected to be $47.6M with adjusted EBITDA of $8.5 to $12.5M.
Consensus for FY24 revenue is $192.80M.
Consensus for Q4 revenue is $46.16M.
Source: Press Release