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Mood Media To Buy DMX Holdings - Quick Facts

Mood Media Corp. (MM.L, MM.TO) has inked a deal to acquire DMX Holdings Inc. for $86.1 million in cash, including net debt repaid on closing, subject to certain adjustments for working capital. The equity value of the transaction would be around $53.8 million.

To satisfy the consideration payable in relation with the DMX purchase, Mood Media has reached placing agreements in Canada and the UK to complete a private placement of 31.8 million shares, to be issued at 231 pence per common share or C$3.60 per share, raising 73.5 million pounds or C$114.5 million before expenses. The additional net proceeds of the private placement would be used for general corporate purposes.

by RTT Staff Writer

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