LESAKA TECHNOLOGIES INC (LSAK): M&A transaction — Lesaka completes Adumo acquisition for ZAR 1.67B (17.3M shares + ZAR 232M cash)

LESAKA TECHNOLOGIES INC

Total consideration ZAR 1.67B ($96.2M) via 17,279,803 shares and ZAR 232.2M cash.
Acquisition adds 1.7M consumers, 120K merchants, annual throughput ZAR 270B.
Lesaka buying 2,601,410 of its own shares for ZAR 207.2M from Crossfin to provide liquidity to indirect Adumo shareholders.
Adumo CEO Paul Kent joins executive team; Crossfin CEO Dean Sparrow joins board.
Financing via ZAR 665M bridge facility from RMB unsecured at Prime+1.80%, due Dec 13, 2024.

item 1.01 item 2.01 item 2.03 item 3.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

LESAKA TECHNOLOGIES INC completed an acquisition involving Crossfin Apis Transactional Solutions (Pty) Ltd and Adumo ESS (Pty) Ltd for issuance of 17,279,803 shares of the Company's common stock and a ZAR 232,158,422 million payment in cash (closed 2024-10-01).

Action: acquisition
Counterparty: Crossfin Apis Transactional Solutions (Pty) Ltd and Adumo ESS (Pty) Ltd
Consideration: issuance of 17,279,803 shares of the Company's common stock and a ZAR 232,158,422 million payment in cash
Closing: 2024-10-01

Exact text from the filing

On October 1, 2024, all conditions related to the Acquisition were fulfilled and the transaction closed. The purchase consideration was settled through the combination of an issuance of 17,279,803 shares of the Company's common stock and a ZAR 232,158,422 million payment in cash.

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Source: SEC EDGAR

accession 0001062993-24-017188

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