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Extract to table / legal-due-diligence-report.docx
legal-due-diligence-report.docx
Parties
Harkness LLP
Northgate Telecommunications PLC
Delaware General Corp
Surviving Corp
Braun LLP
Sable LLP
Equity Inc
Stock Inc
Dates
February 26, 2025
April 7, 2025
September 30, 2025
November 29, 2025
March 14, 2011
May 16, 2022
September 8, 2023
March 17, 2025
March 18, 2025
March 20, 2025
Amounts
$750,000,000
$22
$82,600,000
$826,000
$75
$15.79
$12.3
$0.001
$1,000,000
$83,426,000
Obligations
The financial impact of such acceleration must be quantified based on the spread between applicable exercise prices and the $15
Because the forward merger constitutes a change of control of Cascadia (the Company's stockholders will cease to hold any equity interest in the Surviving Corporation, and Northgate will acquire 100% ownership), any contractual provisions triggered by a change of control must be carefully analyzed and addressed
The forward merger constitutes a change of control under the Elkhorn Credit Agreement, and accordingly, the full payoff of the Elkhorn facility must be completed at or prior to the Effective Time
The Elkhorn UCC-1 filing covers "all assets" of the Company and must be terminated in connection with the closing and payoff of the Elkhorn term loan
Accordingly, Northgate and Cascadia must file an application for consent to the transfer of control (an "International 214 Transfer of Control Application") with the FCC's International Bureau