Buyer backs out of deal on Input Capital

The company that was set to buy Input Capital Corp. has backed out of the deal.

The publicly-traded company, based in Saskatchewan, announced an agreement to be bought by Bridgeway National Corp. in August 2020 for approximately $97.5 million.

Input Capital offers canola “streaming” financing, where the company provides capital in exchange for a stream of canola via multi-year fixed-volume canola purchase contracts.

Eric C. Blue, Bridgeway CEO, sent a letter to Input Capital indicating that the Washington, D.C.-based company was “not in a position to complete the Plan of Arrangement” as set out in the purchase agreement.

Bridgeway will pay the termination fee set out in the original agreement.

Input’s board of directors says it will return to the company’s strategic plan that was in place prior to the August 12, 2020 announcement, and that it will “continue to consider internal or external proposals that would enhance and grow shareholder value.”

Input postponed capital deployment in May of 2019 in light of canola trade uncertainties with China and the effect of this uncertainty on capital availability.

Leave a Reply

 

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Privacy Preference Center

Necessary

Necessary cookies help make a website usable by enabling basic functions like page navigation and access to secure areas of the website. The website cannot function properly without these cookies.

gdpr, __cfduid, PHPSESSID, wordpress_test_cookie, woocommerce_items_in_cart, woocommerce_cart_hash, wp_woocommerce_session, wordpress_logged_in, wordpress_sec, wp-settings, wp-settings-time, __cf_mob_redir, wordpress_cache, realag
__cfduid

Marketing

Measuring interactions with the ads on the domain.

__gads,fsk_ut_2317
IDE

Statistics

These are used to track user interaction and detect potential problems. These help us improve our services by providing analytical data on how users use this site.

_ga,_gid,_gat,_cb,_chartbeat2,_chartbeat4
_ga,_gid
metrics_token

Preferences

Preference cookies enable the website to remember information that changes the way the website behaves or looks, like your preferred language or the region that you are in.

chartdefaults, comment_author, comment_author_email, comment_author_url
JSESSIONID, _os_session,anonymous_votes,csrf-param,csrf-token,user,user-id,user-platform,intercom-session,intercom-lou,intercom-session
personalization_id, tfw_exp

 

Register for a RealAgriculture account to manage your Shortcut menu instead of the default.

Register