AACTF - Aurora Solar Technologies plans to acquire BT Imaging

Aurora Solar Technologies (OTCPK:AACTF) said it plans to acquire BT Imaging, a private Australian company. AACTF offered to acquire BTi through a share for share deal in the amount of C$16.2M. Aurora's offer has been initially accepted by 63% of all BTi shareholders, including 81% of its preference shareholders. The purchase price of the offer is segmented into a fixed and a variable amount of C$13.4M and C$2.8M, respectively. The total consideration to be issued by AACTF to BTi shareholders will not exceed 81M shares. This offer includes a 16-month escrow period for the shares issued to BTi's shareholders in which the shares are released in equal tranches, each at 4, 10 and 16 months from the closing of the transaction. The transaction is expected to be accretive to earnings, based on additive sales and cash flow. The acquisition will accelerate Aurora's growth by combining complementary quality control tools with Aurora's

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Aurora Solar Technologies plans to acquire BT Imaging