Deal Snapshot
BNN TECHNOLOGY ONCE AGAIN EXTENDS EXPIRATION DATE OF TENDER OFFER FOR MICT SHARES
Friday 31 May 2019

UK-based technology and content provider BNN Technology plc has extended the expiration date of its tender offer to purchase up to 1,953,423 shares of the common stock of MICT, Inc. (NASDAQ: MICT) at a purchase price of USD 1.65 per share, net to the seller, in cash, the company said.
The tender offer is being made in accordance with the acquisition agreement, dated as of December 18, 2018, between BNN, MICT and other parties thereto. As amended, the tender offer will now expire at 5:00 ET on 7 June, unless further extended or earlier terminated.


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Details
Date Published: 31/05/2019
Target: Micronet Enertec Technologies/ up to 1,953,423 shares
Country: USA
Deal Size: 3.22m (USD)
Sector: Aerospace/Defence
Type: Stakebuilding
Financing: Cash
Status: Agreed
Vendor:
Buyer: BNN Technology
Comment:
Under a deal made last summer, BNN will seek to acquire, through a third-party cash tender offer at a price of at leastĀ USD 1.65, an additional approximately 35% stake in MICT, with a view to owning in aggregate at least 50.1% of the company´s issued shares.

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