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AnalytixInsight Inc. Provides Update to Reverse Takeover Transaction with Polymath Research Inc.
Toronto, Ontario--(Newsfile Corp. - June 27, 2025) - AnalytixInsight Inc. (TSXV: ALY) (OTC Pink:...
About this update from Analytixinsight, Inc. (canada)
[{"type":"text","content":"AnalytixInsight Inc. Provides Update to Reverse Takeover Transaction with Polymath Research Inc.Toronto, Ontario--(Newsfile Corp. - June 27, 2025) - AnalytixInsight Inc. (TSXV: ALY) (OTC Pink: ATIXF) (\"AnalytixInsight\"), announces it has further amended and restated the amalgamation agreement originally entered into on March 3, 2025 as amended and restated on May 13, 2025 (the \"Prior Amalgamation Agreement\") among AnalytixInsight, Polymath Research Inc. (\"Polymath\") and 16737803 Canada Inc., a wholly-owned subsidiary of AnalytixInsight (\"Subco\") (the \"Second Amended Amalgamation Agreement\"). AnalytixInsight also announces that Polymath has closed its previously announced asset purchase agreement (the \"Asset Purchase Agreement\") among Polymath, Polymesh Association (\"Polymesh Switzerland\") and Polymesh Labs Ltd. (\"Polymesh Labs\"), a wholly-owned Cayman Islands subsidiary of Polymath. AnalytixInsight also provides an update on the reverse takeover transaction (the \"Transaction\") with Polymath announced March 4, 2025 including the brokered concurrent financing for Subscription Receipts (defined below) on a commercially reasonable efforts private placement basis (the \"Concurrent Financing\"). AnalytixInsight announces that, in light of the signed Second Amended Amalgamation Agreement, it has elected to cancel its previously scheduled annual general and special meeting (the \"AGSM\") set for August 25, 2025. The AGSM has been rescheduled and will now take place on September 29, 2025. Further details regarding the September 29, 2025 AGSM, will be provided in due course.Amended and Restated Amalgamation AgreementOn June 27, 2025, AnalytixInsight, Polymath and Subco entered into the Second Amended Amalgamation Agreement, pursuant to which: (i) common share purchase warrants of Polymath (\"Polymath Warrants\") issued pursuant to the Concurrent Financing will, following the completion of the Transaction, cease to represent a right to acquire one (1) common share of Polymath and will become a right to acquire 6.25427 (the \"Exchange Ratio\") common shares of ALY (ALY, following the Transaction, referred to as the \"Resulting Issuer\"); (ii) new convertible securities of Polymath, if any, issued between now and the completion of the Transaction with the consent of ALY shall be exchanged for 6.25427 equivalent convertible ...