Vecima Announces Warrant Agreement with Charter Communications
11 September 2023 - 11:00AM
Business Wire
Vecima Networks Inc. (the “Company” or “Vecima”) (TSX: VCM)
today announced that it has entered into a warrant agreement with
Charter Communications Holding Company, LLC (“Charter”).
The warrants issued as part of the agreement provide Charter
with the opportunity to purchase an aggregate of up to 361,050
common shares in the capital of Vecima at an exercise price equal
to C$17.09 per warrant (the “Warrants”) until January 1, 2031. The
Warrants are subject to vesting conditions based on the achievement
of significant multi-year spending targets by Charter. Issuance of
the Warrants remains subject to the approval of the Toronto Stock
Exchange.
“Our partnership with Charter has continued to expand as the 10G
cable and fiber access networks of tomorrow are being built," said
Sumit Kumar, Vecima President and CEO. “This agreement further
underscores the growth of that relationship as we together continue
to execute a broad network evolution strategy.”
About Vecima Networks
Vecima Networks Inc. (TSX: VCM) is leading the global evolution
to the multi-gigabit, content-rich networks of the future. Our
talented people deliver future-ready software, services, and
integrated platforms that power broadband and video streaming
networks, monitor and manage transportation, and transform
experiences in homes, businesses, and everywhere people connect. We
help our customers evolve their networks with cloud-based solutions
that deliver ground-breaking speed, superior video quality, and
exciting new services to their subscribers. Learn more at
vecima.com.
Forward-Looking Statements
This news release contains “forward-looking information” within
the meaning of applicable securities laws. Forward-looking
information is generally identifiable by use of the words
“believes”, “may”, “plans”, “will”, “anticipates”, “intends”,
“could”, “estimates”, “expects”, “forecasts”, “projects” and
similar expressions, and the negative of such expressions.
Forward looking information in this news release includes the
following statements: the achievement of the vesting conditions of
the Warrants and the exercise of such Warrants by Charter.
The forward-looking statements are based on the current
expectations of the management of Vecima and are inherently subject
to uncertainties and changes in circumstances and their potential
effects and speak only as of the date of such statement. There can
be no assurance that future developments will be those that have
been anticipated. Forward-looking statements reflect material
expectations and assumptions, including, without limitation,
expectations, and assumptions relating to the purchase of products
from Vecima by Charter.
A more complete discussion of the risks and uncertainties facing
Vecima is disclosed under the heading “Risk Factors” in the
Company’s Annual Information Form dated September 22, 2022, as well
as the Company’s continuous disclosure filings with Canadian
securities regulatory authorities available at www.sedar.com. All
forward-looking information herein is qualified in its entirety by
this cautionary statement, and Vecima disclaims any obligation to
revise or update any such forward-looking information or to
publicly announce the result of any revisions to any of the
forward-looking information contained herein to reflect future
results, events or developments, except as required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20230911142602/en/
Investor Relations: 250-881-1982, invest@vecima.com Media
Relations: bernadette.dunn@vecima.com
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