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WILDBRAIN ANNOUNCES AGREEMENT TO ACQUIRE HOUSE OF COOL, A LEADER IN PRE-PRODUCTION CAPABILITIES FOR PREMIUM ANIMATED SERIES AND MOVIES
WILDBRAIN ANNOUNCES AGREEMENT TO ACQUIRE HOUSE OF COOL, A LEADER IN PRE-PRODUCTION CAPABILITIES F...
About this update from Wildbrain Ltd.
[{"type":"text","content":"\n \n \n \n WILDBRAIN ANNOUNCES AGREEMENT TO ACQUIRE HOUSE OF COOL, A LEADER IN PRE-PRODUCTION CAPABILITIES FOR PREMIUM ANIMATED SERIES AND MOVIES\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n Highly complementary bolt-on acquisition significantly expands and enhances WildBrain's\n \n \n pre-production capabilities for premium animated content\n \n \n \n \n Acquisition\n \n \n advances WildBrain's strategic focus on creative excellence and delivering top series, specials and features to kids and families worldwide\n \n \n \n \n \n TORONTO\n \n \n ,\n \n \n March 28, 2023\n \n \n /CNW/ - WildBrain Ltd. (\"\n \n WildBrain\n \n \" or the \"\n \n Company\n \n \") (TSX: WILD), a global leader in kids' and family entertainment, has signed an agreement to acquire House of Cool, one of the top pre-production companies in the global animation industry. A strategic extension of WildBrain's focus on creative excellence, the acquisition significantly expands and enhances the Company's pre-production capabilities for premium animated series, specials and features.\n \n \n \n \n \n \n \n \n \n Under the agreement, WildBrain will acquire full ownership of House of Cool. Closing consideration for the acquisition will consist of\n \n $15.5 million\n \n , with\n \n $10.25 million\n \n through the issuance of 4,479,406 WildBrain shares (the \"\n \n Share Consideration\n \n \") and\n \n $5.25 million\n \n in cash (less any debt existing on closing and subject to customary working capital adjustments and holdbacks). Additionally, there is an earn-out of up to\n \n $6 million\n \n based on collection of tax credits earned up to closing.\n \n \n \n Toronto\n \n -based House of Cool is a highly regarded industry leader in pre-production, an essential early planning stage in the life of a feature or series during which the story is developed and creative choices are made to establish the look, feel, style and pacing of a project, creating the blueprint for the launch of full production. Bringing their deep experience...