K2fly Enters into Unanimously Recommended Scheme of Arrangement with Accel-KKR

K2fly (ASX: K2F), an ASX-listed company, has entered into a Scheme of Arrangement with Accel-KKR, a technology investment firm, to be acquired for AU$0.19 per share. This represents a 90% premium to K2fly’s undisturbed share price and values the company at approximately AU$38 million. The K2fly Board unanimously recommends shareholders vote in favor of the scheme in the absence of a superior proposal and subject to an independent expert’s conclusion that the scheme is in the best interests of shareholders.

Major shareholders controlling 48.5% of K2fly shares have indicated they will vote in favor of the scheme. The transaction is subject to FIRB approval and other customary conditions, including shareholder and court approvals. The acquisition will provide K2fly shareholders with an attractive cash exit at a significant premium while allowing Accel-KKR to expand its technology portfolio.

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