- Advanced Human Imaging (AHI) announces its proposed acquisition of wellteq Digital Health has been approved by shareholders
- The plan of arrangement will see AHI acquire all outstanding shares of wellteq and wellteq’s shareholders will receive one AHI share for every six wellteq shares held
- The company expects the transaction will close early next mont, subject to obtaining a final order of the Supreme Court of British Columbia
- Shares in AHI are up 3.26 per cent, trading at 9.5 cents at 3:06 pm AEDT
Advanced Human Imaging (AHI) announced its proposed acquisition of wellteq Digital Health has been approved by the Vancouver-based company’s shareholders.
The plan of arrangement was announced at the start of September and will see AHI acquire all outstanding shares of wellteq.
wellteq Digital Health shareholders will receive one AHI share for every six wellteq common shares held.
This will see AHI issue roughly 17.8 million shares for full control of wellteq. wellteq shareholders in aggregate will hold an interest of roughly 9.57 per cent of AHI’s issued capital.
The company expects to obtain a final order of the Supreme Court of British Columbia on November 30.
The transaction is expected to close in early December.
Following completion of the transaction, wellteq intends to apply to have the wellteq shares delisted from the Canadian Securities Exchange and to cease to be a reporting issuer.
Shares in wellteq are currently listed on the Canadian Securities Exchange (CSE), trading under the code WTEQ.
As part of the acquisition, AHI will integrate wellteq’s complementary software assets in the health and wellness space into its own platform.
Shares in AHI were up 3.26 per cent, trading at 9.5 cents at 3:06 pm AEDT.