Voxtur Solidifies Position as Independent Valuation Tech Provider with Divestiture of AMC Business
TORONTO and TAMPA, Fla., Nov. 01, 2023 (GLOBE NEWSWIRE) — Voxtur Analytics Corp. (TSXV: VXTR; OTCQB:VXTRF) (“Voxtur” or the “Company”), a North American technology company creating a more transparent and accessible real estate lending ecosystem, announced that today, its wholly-owned subsidiary Voxtur Analytics U.S. Corp. (“Voxtur US“), has executed a membership interest purchase agreement (“Agreement”) today in an arms length sign and close transaction with Accurate Group Holdings, LLC (“AGH”) and Voxtur Services LLC (“Voxtur Services”), whereby the Company, through Voxtur US, today sold 100% of the outstanding membership interests in Voxtur Services to AGH, for consideration of USD$30 million, with USD$26 million paid in cash on closing and an additional USD$4 million in earn-out consideration to be paid upon the achievement of certain financial targets as set forth in the Agreement (the “Transaction”). The majority of the proceeds from the Transaction will be used to reduce the Company’s credit facility.
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