TZ (ASX:TZL) entered into a binding agreement to acquire Keyvision Holdings for a total acquisition price of up to AU$10 million, subject to shareholder approvals, according to a Tuesday Australian bourse filing.
The acquisition price will be paid over four years, contingent on the tenant engagement platform achieving agreed revenue and growth milestones.
The deal will be funded through a AU$4 million senior secured debt facility provided by Causeway Finance. The facility will carry an interest rate of 12% per annum and a loan term will be fully repayable by March 31, 2027.
It will use AU$1.3 million of the facility to repay existing debt with First Samuel, taking TZ's total debt to AU$5.5 million. Salter Brothers and PAC Partners operated as joint lead managers on the advisory of the debt facility.
Keyvision principal, Mark Davis, and his senior management will acquire 9.5% of TZ shares from First Samuel.
The firm's shares rose 12% on market close on Tuesday.