The Toronto Stock Exchange reports that Neighbourly Pharmacy Inc. will be delisted at the close on March 21, 2024. According to the TSX, TID Acquisition Corp., a newly formed entity controlled by Persistence Capital Partners, acquired all of the issued and outstanding shares (other than those shares owned or beneficially controlled by the purchaser or any of its affiliates and associates) pursuant to a statutory plan of arrangement under Section 192 of the Canada Business Corporations Act.

The TSX reports that minority shareholders will receive $18.50 in cash and one contingent value right (CVR) per share held, subject to any applicable withholding taxes. Each CVR will entitle the holder thereof to an additional cash payment equal to 61 cents per CVR if the company's pro forma adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) for the fiscal year ending on March 28, 2026 (fiscal 2026), is at or above $128.0-million (the CVR EBITDA target). If the company's pro forma adjusted EBITDA for fiscal 2026 is below the CVR EBITDA target, then no additional consideration will be payable to the holders of CVRs. The CVRs will not be listed on any market or exchange, and may not be sold, assigned, transferred, pledged or encumbered in any manner, other than in the limited circumstances set out in the arrangement agreement, which are summarized in the company's management information circular dated Feb. 7, 2024.

To receive the consideration, shareholders must return the letter of transmittal together with share certificates and/or DRS advices for shares to Computershare Investor Services Inc. at its principal offices in Toronto.