CA - H2O Innovation to be acquired by Ember for C$4.25/share in cash
2023-10-03 16:24:32 ET
H2O Innovation ( OTCQX:HEOFF ) said Tuesday it agreed to be acquired by Ember Infrastructure Management for C$4.25/share in cash, which values the company at C$395M and represents a ~68% premium to the October 2 closing price on the Toronto Stock Exchange.
Upon completion of the deal, Ember will be the controlling shareholder, with shareholders IQ and CDPQ, and key executives holding a ~21% equity interest.
"Ember looks forward to partnering with the H2O Innovation management team to continue building a leading integrated water solutions company focused on providing best-in-class technologies and services to its customers," Ember Managing Partner Elena Savostianova said.
For further details see:
H2O Innovation to be acquired by Ember for C$4.25/share in cash