Tilting bearing
Then (TSX:IVQ:CA) on Friday said a company controlled by its CFO signed a stock purchase agreement to acquire 16.98 million shares from certain units of Tiptree for $625,000.
After the transaction, IVQ Stock Holding Company (ISHC) would own or control, directly or indirectly, approximately 30.21% of the Invesque’s outstanding common stock.
And together with the 212,907 shares currently owned by CFO Adlai Chester, the two parties would collectively hold approximately 30.59% of the company’s stock.
ISHC said it is acquiring the shares for investment purposes and that it may increase or decrease its investment in the company,
After the deal, Tiptree will no longer own or control any shares of the company.
The acquisition is expected to close by April 30, 2024.