INSEEGO CORP. (INSG): M&A transaction — Inseego completes sale of telematics business for $52M cash; repays $6M loan

INSEEGO CORP.

Sold global telematics business (UK, EU, Australia, NZ) to Ctrack Holdings for $52 million all-cash.
Proceeds used to repay in full the $6 million balance on the South Ocean Funding loan agreement.
Estimated net cash proceeds after transaction costs and taxes are $43.5 million.
Pro forma after-tax gain on disposition is $17.7 million; telematics results removed from continuing ops.
Company now solely focused on core 5G domestic mobile and fixed wireless solutions.

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

INSEEGO CORP. completed a disposition involving Ctrack Holdings for $52 million dollars (USD) in an all-cash transaction (closed 2024-11-27).

Action: disposition
Counterparty: Ctrack Holdings
Consideration: $52 million dollars (USD) in an all-cash transaction
Closing: 2024-11-27

Exact text from the filing

“Purchaser”), as assignee of Light Sabre SPV Limited, acquired the entire issued share capital of the Company’s Inseego International Holdings Limited subsidiary for $52 million dollars (USD) in an all-cash transaction (the “Sale Transaction”). The Purchase Agreement provides for a closing accounts mechanism, whereby, following closing of the Sale

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INSEEGO CORP. filing history →

Source: SEC EDGAR

accession 0001683168-24-008452

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