Prosys Tech Corporation has announced a letter of intent to acquire aeronautical assets from Aeronautics Fund SCA SICAV-RAIF and certain registered fund holders in a transaction valued at $25.6 million. The proposed deal is part of a broader corporate plan that also includes a company name change and a share consolidation.
Alongside the acquisition, the Montreal-based company said it intends to complete a concurrent private placement of up to $4.75 million. The financing appears designed to support the overall transaction and related corporate restructuring as Prosys moves toward becoming the resulting issuer after the deal closes.
The company also disclosed that commissions may be payable in connection with the private placement. Based on the announcement, that compensation could include a cash fee of as much as 10% of the gross proceeds raised through the financing.
The update signals a significant strategic shift for Prosys as it looks to expand through an aeronautical asset purchase while reshaping its corporate structure. Further details on final terms, approvals and closing conditions are expected as the proposed acquisition and financing process moves ahead.
