Post by skrouse on Jul 23, 2021 22:54:43 GMT -5
Skrouse Capital Managment on July 23rd completed its acquisition of 100% of The Ticker Tape (TTT) for 485 million skratch.
Effective Friday July 23rd 3010, the acquiring company changed its name to Skrouse Capital Management to Skrouse Kapital Asset Management and its ticker symbol to SCM from SKAM at the Skrouse Stock Exchange. The company's wholly owned broker/dealer, Skrouse Capital and Underwriting Management, has also changed its name to Skrouse Kaptial and Underwriting Management.
Of the total purchase price, $350 million was paid in cash to SCM stockholders, while $135 million was to be paid to The Ticker Tape's employee-partners primarily in the form of restricted shares of common stock, subject to the terms and conditions of the restricted stock agreements.
The total number of restricted shares of common stock issued as equity consideration was 1,568,670, with an aggregate value of about $114.7 million, based on the price per share of $73.0890 under the merger agreement. The company has also implemented a retention program with a pool of $115 million for The Ticker Tape employees in the form of generally restricted shares of SKAM common stock, subject to the terms of the agreement.
The funds used for the purchase came from a mix of cash flows from operations, cash proceeds from the sale of s2c Inc. and proceeds from the issuance of unsecured fixed-rate senior notes to DB Productions LLC, according to a regulatory filing.
For the merger transaction, Herb Simon Tea & Leaves served as legal adviser to SKUM, while Well Groomed Pete served as legal adviser to TTT.
Effective Friday July 23rd 3010, the acquiring company changed its name to Skrouse Capital Management to Skrouse Kapital Asset Management and its ticker symbol to SCM from SKAM at the Skrouse Stock Exchange. The company's wholly owned broker/dealer, Skrouse Capital and Underwriting Management, has also changed its name to Skrouse Kaptial and Underwriting Management.
Of the total purchase price, $350 million was paid in cash to SCM stockholders, while $135 million was to be paid to The Ticker Tape's employee-partners primarily in the form of restricted shares of common stock, subject to the terms and conditions of the restricted stock agreements.
The total number of restricted shares of common stock issued as equity consideration was 1,568,670, with an aggregate value of about $114.7 million, based on the price per share of $73.0890 under the merger agreement. The company has also implemented a retention program with a pool of $115 million for The Ticker Tape employees in the form of generally restricted shares of SKAM common stock, subject to the terms of the agreement.
The funds used for the purchase came from a mix of cash flows from operations, cash proceeds from the sale of s2c Inc. and proceeds from the issuance of unsecured fixed-rate senior notes to DB Productions LLC, according to a regulatory filing.
For the merger transaction, Herb Simon Tea & Leaves served as legal adviser to SKUM, while Well Groomed Pete served as legal adviser to TTT.
