On April 8, 2024, IBEX Technologies Inc. completed the sale of the company by amalgamating with 15720273 Canada Inc., a newly-incorporated wholly-owned subsidiary of BBI Solutions OEM Limited (“BBI”).
In the amalgamation, BBI acquired all of the issued and outstanding shares of IBEX at a price of $1.45 per share in cash, representing total consideration of approximately $37.9 million. The transaction was approved by IBEX shareholders at an annual and special meeting held on April 3, 2024 with a positive vote of approximately 99.83% of the shares voted. Upon the completion of the sale, the shares of IBEX were delisted from the TSX Venture Exchange.
IBEX Technologies Inc. manufactures and markets proteins for biomedical use through its wholly-owned subsidiary IBEX Pharmaceuticals Inc.
A Fasken team led by Neil Wiener and Simon Bisson and including Laura Fabi and Vincent-Christophe Morin-Lavoie (securities and M&A) and Claude E. Jodoin and Gabriel Paradis (tax) advised IBEX Technologies Inc. in connection with the sale of the company.
