Blue ant media Will do business publicly Boat rocker Media, founder through a reverse takeover Michael McMillan Back to public markets, companies announced on Monday.
The deal symbolizes a return to public markets for Macmillan, the founder and CEO of Blue Ant, who first manufactured Allies Atlantis in a global powerhouse before selling it for CAD $ 2.3 billion (about $ 1.6 billion) in 2007.
Under the agreement, Toronto -based blue ant will acquire all outstanding shares of the media in exchange for subordinate voting shares in the exchange ratio of 1.25 boat rocker shares for each blue ant share. The boat rocker CAD in the transaction values ​​shares at $ 1.80 (approximately $ 1.26) at pre-composed, which represents a 125% premium for a closed price of boat rocker on the Toronto Stock Exchange on March 21.
The resulting entity will be renamed to Blue Ant Media Corporation and inherited three important Canadian production companies from boat rockers: Insight Productions, Jam -filled Entertainment, and Proper Television, which collectively generated a revenue of about $ 82.4 million in the calendar year 2024.
Macmillan said in a statement, “This is an opportunistic moment for Blue Ant, which paves the way for long -term value construction, to go publicly.” “We are confident that this transaction will unlock the important value for all shareholders. Through a combination of our public listing, a strong balance sheet, and important net cash post-trans-trans-trans-trans-trans-transport-transport, we believe that we are strategically deployed for beneficial global development, both are deployed through the E&A.”
Blue Ant, which produced $ 136.8 million in revenue in its most recent financial year ending August 31, 2024 (16% growth year-by year) and has developed considerably since its establishment in $ 12.6 million, 2011, in 2011. Headquarters in Toronto, the company, has a global footsteps for a global position in Los Angeles, New York, London, London, London, London, London, London, London. The company now operates in material construction, rights management, international distribution, streaming, broadcasting, consumer shows and connected TV advertising sales.
After the transaction, blue anti shareholders are expected to own the resulting company with approximately 73.5% of the resulting company, with boat rocker shareholders perception of the remaining 26.5%. Macmillan Canadian will maintain about 77.5% of the total votes through several voting shares, according to the Canadian broadcasting ownership requirements.
The deal includes sufficient financial assets, including a minimum cash balance of $ 17.8 million from the demonetisation of the ownership of the boat rocker in the initial group, about $ 11.9 million cash, which is a price of $ 12.6 million seller Techback Promotion notes related to the management of some boat rocker assets, and $ 24.2 million on the basis of 2025 performance.
Concurrent with RTO, the management of the boat rocker will complete the company’s studio business, except for three production companies acquired by Blue Ant. This management team will continue to work under the boat rocker after the team transaction.
An important blue ant shareholder, Fairfax Financial Holdings has agreed to support the offer of a planned agency with $ 14 million backstop commitment. Commerke Securities and National Bank will act as co-Leid agents for financial offers.
The transaction keeps the blue ant to redeem the market disintegration that affects traditional media players. About 47% of Blue Ant’s fiscal is coming from international markets with 2024 revenue, from 29% in 2020, the company is emphasizing its global strategy that focuses on universally preferred universally liked styles like nature and wildlife, lifestyle and history.
McMillan Brad Martin will step into the CEO of the resulting company with the current chair of Blue Ant, who was appointed as the chairman of the board of directors.
