INVESQUE INC. Adlai Chester entered into a definitive share purchase agreement to acquire an additional 30.2% stake in Invesque Inc. (TSX:IVQ) from Tiptree Inc. (NasdaqCM:TIPT) for CAD 0.85 million on March 29, 2024. Under the agreement, certain of the subsidiaries of Tiptree Inc. will dispose of an aggregate of 16,982,283 common shares of Invesque Inc for CAD 0.049868 per common share, in a private sale to Adlai Chester, Chief Financial Officer of Invesque. Following the acquisition, Tiptree will no longer own or control any shares in Invesque Inc. Adlai Chester, who currently owns 212,907 common shares of Invesque, will own 17,195,190 common shares, representing approximately 30.59% of the outstanding common shares of Invesque.
The acquisition remains subject to customary closing conditions and is expected to be completed on or before April 30, 2024.
