Apteryx Imaging Inc. (“Apteryx” or the “Company”) (TSXV:XRAY) is pleased to announce the closing of the previously announced acquisition of the Company by a PDDS Buyer, LLC (“Planet DDS”) subsidiary. Planet DDS has acquired 100% of the Company’s outstanding common and preferred shares for CAD$0.65 per share in an all-cash transaction (the “Transaction”).
“Planet DDS and Apteryx offer substantial value propositions to the dental industry, which this acquisition will allow us to enhance moving forward,” stated Eric Giesecke, chief executive officer for Planet DDS. “Today is the beginning of a bright future for both Planet DDS and Apteryx. The entire Planet DDS family is excited to welcome Apteryx to our team.”
Founded in 2003, Planet DDS is the largest independent provider of cloud-native practice management systems to the dental industry with their Denticon software. Apteryx develops a line of award-winning imaging software technologies, including XrayVision and XVWeb, along with the VELscope oral screening device and TUXEDO intraoral sensors.
“The Planet DDS team has been instrumental in the growth of our company as a key partner for our XVWeb cloud imaging software,” stated Dr. David Gane, CEO of Apteryx Imaging. “We feel the synergies between the Planet DDS and Apteryx teams will have a very positive impact on the growth of both organizations moving forward.”
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The Apteryx common shares are expected to be delisted from the TSX Venture Exchange at the close of business on or about August 13, 2020 and Apteryx will apply to cease to be a reporting issuer in British Columbia, Alberta and Ontario.
Full details of the Transaction are set out in the management information circular of the Company dated July 6, 2020 (the “Circular”). Registered Apteryx shareholders should send their completed and executed letters of transmittal and Apteryx share certificates to the depositary, Computershare Trust Company of Canada, as soon as possible in order to receive the consideration to which they are entitled to in connection with the Transaction. For those shareholders of Apteryx whose shares are registered in the name of a broker, investment dealer, bank, trust company, trust or other intermediary or nominee, they should contact such nominee for assistance in depositing their shares and should follow the instructions of such intermediary or nominee.
Source: Biospace
