Nextech3D.ai expects October closing for acquisition of remaining ARway shares
Nextech3D.ai (CSE:NTAR, OTCQX:NEXCF) has announced that it anticipates the completion of its planned acquisition of the outstanding shares of ARway Corporation in October. The companies have entered into a definitive agreement dated July 24 to finalize terms for this previously announced transaction. Nextech currently owns approximately 40% of ARway, while management and insiders hold an additional ~20%. Upon closing, Nextech will own all of ARway's shares, making it a wholly owned subsidiary. The acquisition aims to consolidate augmented reality (AR), event technology, and intellectual property assets under one corporate structure. The deal involves issuing approximately 19.9 million Nextech shares as consideration for the outstanding ARway shares. It is subject to shareholder approval at both companies, regulatory approvals, and customary closing conditions.
Topics: augmented reality event technology M&A