TORONTO, Jan. 15, 2024 /CNW/ - Neighbourly Pharmacy Inc. ("Neighbourly" or the "Company") (TSX: NBLY), Canada's largest and fastest growing network of independent pharmacies, and Persistence Capital Partners ("PCP"), are pleased to announce that they have entered into a definitive arrangement agreement (the "Arrangement Agreement") pursuant to which T.I.D. Acquisition Corp., a newly-formed entity controlled by PCP (the "Purchaser"), would acquire all of the common shares (the "Common Shares") in the capital of Neighbourly, other than those Common Shares already owned by PCP or its affiliates, for $18.50 per Common Share in cash plus one contingent value right ("CVR") per Common Share, which will entitle the holder thereof to an additional cash payment of $0.61 per CVR if the Company's Pro-Forma Adjusted EBITDA target for the 2026 fiscal year is achieved, as further described below. The transaction is expected to close by March 29, 2024, subject to the satisfaction of customary closing conditions.
Read more at newswire.caNeighbourly Enters into Definitive Agreement to go Private with its Controlling Shareholder Persistence Capital Partners
Provided Content: Content provided by Newswire.ca. The Globe and Mail was not involved, and material was not reviewed prior to publication.
