(CercleFinance.com) – The managers of Generix Group, a player specializing in the development and development of collaborative SAAS solutions for the Supply Chain and Commerce ecosystem and Pléiade Investissement, entered into negotiations on April 22, 2022 with the Montefiore Investment fund with a view to the conclusion of an investment protocol providing for the creation of an ad hoc company (‘New Gen’) intended to acquire the financial securities held by the managers and Pléiade in the capital of Generix Group and to then file a takeover bid financed by Montefiore.
In this context, Pléiade would contribute all of its Generix Group shares (44.8% of the capital and 43.2% of the voting rights) to New Gen. Part of the shares and warrants of the managers would be acquired on the basis of a price per Generix Group share equal to 9.50 euros.
At the same price, New Gen would also acquire 3,718,676 Generix Group shares held by 7 institutional investors (16.4% of the capital and 15.6% of the voting rights).
Following these operations, New Gen would hold 67.2% of the capital of Generix Group representing 65.4% of the theoretical voting rights of Generix Group.
The price of 9.50 euros per share values 100% of the capital of Generix Group at approximately 236.57 ME.
If New Gen crosses, at the end of the Public Offer, the threshold of 90% of the capital and voting rights of Generix Group, New Gen will request the implementation of a squeeze-out procedure and will pay to the all shareholders who tendered their shares to the Public Offer an additional price of 0.50 euro per share, the squeeze-out being carried out at the price of 10 euros per share.
The closing of this offer could take place by the end of July 2022.