On July 5, 2022, Voxtur Analytics Corp. ("Voxtur"), a transformational real estate technology company, announced the completion of its acquisition of Municipal Tax Equity Consultants Inc. ("MTEC"). Concurrently with the MTEC acquisition, Voxtur's associated entity, MTAG Paralegal Professional Corp., acquired MTE Paralegal Professional Corporation, an associated entity of MTEC ("MTEP", and together with MTEC, “MTE”) (collectively, the "Acquisition").
The purchase price for the acquisition of MTEP was C$900,000 payable in cash and the aggregate purchase price for the acquisition of MTEC by Voxtur was C$3.5 million, subject to customary adjustments (the “MTEC Purchase Price”), paid in a combination of cash, totalling C$2.2 million, and common shares of Voxtur (“Common Shares”), with C$800,000 of the MTEC Purchase Price satisfied by the issuance of 808,080 Common Shares at closing, priced at C$0.99 per Common Share, and C$500,000 of the MTEC Purchase Price satisfied by the issuance of up to 505,050 Common Shares priced at C$0.99 per share subject to an escrow hold period of 18 months.
Fasken advised Voxtur with a team lead by Krisztián Tóth and Nicole Park and including Rachel Charney, Onyi Ubah, and David Pak (M&A); Jackie VanDerMeulen (Labour, Employment & Human Rights); Robert Iaccino and Alex Burrell (Real Estate); Mark Vanderveken (Intellectual Property); and Mitchell Thaw and Devon LaBuik (Tax).
Jurisdiction
- Ontario
