Swoop Holdings (ASX:SWP) reconfirmed its Swoop Telecommunications unit's plan to acquire Vonex (ASX:VN8) via a takeover offer, according to a Tuesday filing with the Australian bourse.
In September, Swoop acquired a 16.99% stake in Vonex at an average price of AU$0.04 per share, totaling around AU$2.5 million.
As part of the takeover, the company intends to offer one fully paid-up Swoop Holdings share for every four Vonex shares, at an implied price of AU$0.05 per Vonex share.
Swoop expects over AU$5 million in earnings before interest, taxes, depreciation, and amortization on an annualized basis from the takeover.
The company also expects that pro forma revenue for the combined business for fiscal 2024 would take Swoop revenue to about AU$137 million.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.