Owlpoint IP Opportunities JVF LP and Quarterhill Inc. (TSX:QTRH) acquired Wi-LAN Inc. from Quarterhill Inc. (TSX:QTRH) for approximately CAD 71.4 million on June 15, 2023. In addition to the 10% ownership stake in WiLAN, the consideration for this transaction will consist of approximately CAD 48 million in cash, approximately CAD 8 million as an earn out and approximately CAD 15.4 million pursuant to an unsecured promissory note, which earn out and note are payable on WiLAN achieving certain revenue milestones. Quarterhill's 10% ownership stake can be repurchased by WiLAN for between approximately CAD 13 million and CAD 16 million subject to WiLAN meeting certain revenue milestones.

Owlpoint IP Opportunities JVF LP and Quarterhill Inc. (TSX:QTRH) completed the acquisition of Wi-LAN Inc. from Quarterhill Inc. (TSX:QTRH) on June 15, 2023.