Dec 2021 - $PSD.to, $ISV.to, $STC.to & $SANG, $XTC.to, $VLN.to, $PZA.to, $KUT.v
Hoping everyone had a happy holiday season. I’m looking to become a little more active on the blog in 2022. The only resolution I have made (which is really a task I have been procrastinating on for 3 months) is to get back on Twitter and have it be a productive use of my time.
TIKR
TIKR recently announced the end of the free version. I have made the switch over to the paid premium version.
Thoughts on Market Activity
Nothing constructive to add. I have been fairly busy rotating some capital during the last month of 2021.
Developments on Companies Mentioned
Pulse Seismic - $PSD.to
Information Services Corp - $ISV.to
New CFO announced
Internal hire
Sangoma Technologies Corp - $STC.to
Announced they will list on Nasdaq under the ticker SANG
Exco Technologies - $XTC.to
Acquisition of Halex
Still digging into this one a bit
It does fit their 5 year objectives
Velan - $VLN.to
CFO resignation
Transition plan to May 2022
Seems like a non-event
Pizza Pizza Royalty Corp - $PZA.to
Announced Master Franchise Agreement with KSG/GrünCorp
Plan on entering Mexico in 2022
RediShred Capital - $KUT.v
Acquired American Security Shredding
5.15 mil USD on closing and up to 3.4 mil USD in earnout over 3 years or up to 8.55mil USD total or about 5-6x ebitda
American Shredding actually has slightly better ebitda margins than KUT
These earnouts are a really smart way of deploying capital as it reduces the current capital needed so KUT can scale into the integration and have a larger EBITDA run rate to borrow against, thus reducing the need to do a share issuance
Announced bought deal at 0.88 and closed within the month
Clean raise with no warrants
A little over 10% dilution
*Long $PSD.to, $STC.to, $VLN.to, $KUT.v at time of posting