CommScope grants Vantiva call option to acquire Home Networks business for 25% stake plus up to $100M earn-out

Vistance Networks, Inc.

Vantiva gets binding call option to buy CommScope's Home Networks business; exercise subject to works council consultation in France.
Consideration: 25% equity stake in Vantiva (fully diluted) plus earn-out up to $100M based on Vantiva achieving €400M adjusted EBITDA.
If Vantiva doesn't exercise (excluding MAE termination), it pays CommScope a €5M break-up fee.
Closing conditions include regulatory approvals, Vantiva shareholder approval, and completion of Home Business restructuring.
Vantiva will continue employment for Home Business employees with at least equal pay and substantially comparable benefits.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Vistance Networks, Inc. entered into Call Option Agreement with Vantiva SA valued at €5,000,000 lump sum if not exercised; 25% equity stake plus earn-out up to $100,000,000 if exercised (effective 2023-10-02).

Action: entry
Counterparty: Vantiva SA
Value: €5,000,000 lump sum if not exercised; 25% equity stake plus earn-out up to $100,000,000 if exercised
Effective: 2023-10-02

Exact text from the filing

On October 2, 2023, CommScope Holding Company, Inc. (the “Company”) and Vantiva SA, a société anonyme organized under the Laws of France (“Vantiva”), entered into a Call Option Agreement (the “Option Agreement”) pursuant to which the Company has granted Vantiva a binding call option to acquire the Company’s Home Networks business (the “Home Business”).

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Source: SEC EDGAR

accession 0001193125-23-251555

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