Think Research

Canaccord Genuity Acts as Exclusive Financial Advisor to Think Research on its Announced C$85 Million Sale to Beedie Capital

Canaccord Genuity (“CG”) is pleased to announce that on February 16, 2024, its client, Think Research Corporation ("Think Research" or the "Company"), entered into an arrangement agreement with Beedie Investments Ltd. (“Beedie Capital”) pursuant to which Beedie Capital will acquire 100% of the common shares of Think Research for a fully diluted total enterprise value of C$85 million.

The transaction provides immediate liquidity and certainty of value to Think Research shareholders at an attractive price of C$0.32 per share, representing a premium of approximately 100% to the closing price on the TSXV prior to the announcement of the transaction and a premium of approximately 75% to the 30-day volume-weighted average trading price of the shares. The definitive agreement included a 30-day “go shop” period that allowed Think Research and CG to actively solicit and consider alternative acquisition proposals. The transaction is expected to close in Q2 2024.

Think Research is an industry leader in delivering knowledge-based digital health software solutions. The Company’s focused mission is to organize the world’s health knowledge so everyone gets the best care. Its evidence-based healthcare technology solutions support the clinical decision-making process and standardization of care to facilitate better health care outcomes. The Company gathers, develops, and delivers knowledge-based solutions globally to customers including enterprise clients, hospitals, health regions, healthcare professionals, and governments. Think Research was founded in 2006 and is based in Toronto, ON.

Beedie Capital is a multi-strategy direct investment platform that manages the alternative investments for Beedie, one of Western Canada’s largest property developers. It deploys capital using a flexible, evergreen mandate, and applies a highly agnostic approach to the duration, structure and size of its investments. Beedie Capital invests in any sector, with a core focus on Technology, Tech-enabled Services, and Metals and Mining, and seeks to grow its invested capital alongside the enterprise value of its investments. Beedie Capital is based in Vancouver, BC.

CG acted as exclusive financial advisor to the Special Committee of Think Research, which was formed by its board to review and evaluate potential strategic alternatives for the Company following an inbound offer by Beedie Capital. This marks the 6th transaction CG has undertaken for the Company.