SRS Advogados advised Portuguese electrochromic display developer YD Ynvisible on the reverse takeover (RTO) involving Canadian company Ynvisible Interactive.
Under the terms of the deal, Ynvisible Interactive has acquired 94.19 per cent of the issued and outstanding common shares of YD Ynvisible.
The RTO was completed pursuant to the terms of a share exchange agreement involving Ynvisible Interactive, YD Ynvisible and certain shareholders of Ynvisible. In consideration of the acquisition of 94.19% of YD Ynvisible’s shares, and pursuant to the terms of the share exchange agreement, Ynvisible Interactive has issued 24,650,950 common shares at a price of $0.30 per share.
The RTO resulted in a public offering listed on the TSX Venture Exchange, based in Toronto.
The SRS Advogados team was led by Alexandra Valente, and included managing associate Neuza Pereira de Campos and associate Kathleen Hoffmann Barley.