In phases two to four, should Create meet certain revenue and profitability targets for the various relevant periods, Avi-Tech will be granted call options and existing shareholders granted put options.
Avi-Tech Holdings has entered into a term sheet to subscribe for new ordinary shares in Create Technologies for an initial consideration of $2 million.
The acquisition of stake in Create will take place in four parts. In the first, Avi-Tech will subscribe for 85,714 new ordinary shares in Create, and will hold about 30% of the issued and paid-up capital of the company.
