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Provider: S&P Capital IQ Quantitative Report
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DealNet Capital Corp To Acquire Home Services Company


Thursday, 13 Sep 2012 11:08am EDT 

DealNet Capital Corp announced that it has entered into a letter of intent agreement to acquire an Atlanta based Home Services Company. (HSC). HSC is in the business of providing Heating Ventilation and Air Conditioning (HVAC) after-market protection plans to over 2000 customers (home owners) in the greater Atlanta area. The terms of the HSC acquisition agreement include the issuance of up to 2,500,000 common shares and $325 per qualified customer capped at an initial payment of $500,000. Any amount due above and beyond the initial payment will be paid over 24 months and secured via a Promissory Note. In addition, deferred compensation will be paid during the first 18 months following closing based on the earnings before interest, tax and depreciation (EBITDA) performance of HSC. Up to 2,500,000 common share purchase warrants may also be issued to the shareholders of HSC based on the EBITDA performance of HSC during the first 24 months after closing. Closing of the transactions described herein will occur on October 31, 2012 or immediately upon receipt of any required regulatory approval. 

Company Quote

0.168
-0.0030 -1.98%
21 Jul 2014