Deal Snapshot
BNN TECHNOLOGY TERMINATES TENDER OFFER FOR SHARES OF MICT COMMON STOCK
Friday 07 June 2019

UK-based technology and content provider BNN Technology plc has terminated 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 was made in accordance with the acquisition agreement, dated as of December 18, 2018, between BNN, MICT and other parties thereto, and was due to expire at 5:00 pm ET on June 7, 2019. No shares were purchased by BNN in the tender offer and all shares previously tendered but not withdrawn will be promptly returned, the company said.


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Details
Date Published: 07/06/2019
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: Terminated
Vendor:
Buyer: BNN Technology
Comment:
Under a deal made last summer, BNN would 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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