(All figures in Canadian dollars unless otherwise
noted)
TORONTO, Dec. 17, 2021 /CNW/ - Aimia Inc. (TSX: AIM), is
pleased to announce that it has invested $31.6 million (US$25.0
million) in a Convertible Note of TRADE X, the proceeds of
which will be used by TRADE X to continue executing its growth
strategy.
The Convertible Note is expected to convert to equity at a
minimum of a 15% discount to the pre-money valuation of TRADE X's
next qualified financing round. Aimia led TRADE X's most
recent equity round with a $44.0
million (US$35.0 million)
investment at a US$250 million
pre-money valuation.
This Convertible Note will increase Aimia's total capital
invested in TRADE X to $75.6 million
(US$60.0 million).
Phil Mittleman, CEO of Aimia,
said: "We are very pleased with the rapid growth and profitability
of TRADE X, as they continue to expand their platform
globally. We are proud to strengthen our partnership and
support their continued growth."
About Aimia
Aimia Inc. (TSX: AIM) is a holding company with a focus on
making long-term investments in public and private companies, on a
global basis, through control or significant minority
positions.
The company owns a portfolio of investments which include: a
10.85% stake in Clear Media Limited, one of the largest outdoor
advertising firms in China, a
48.8% equity stake in Kognitiv, a B2B technology company enabling
collaborative commerce, a 12.3% equity stake in TRADE X, a global
B2B cross-border automotive trading platform as well as a wholly
owned investment advisory business, Mittleman Investment
Management, LLC.
For more information about Aimia, visit www.aimia.com.
Forward-Looking Statements
This press release contains statements that constitute
"forward-looking information" within the meaning of Canadian
securities laws ("forward-looking statements"), which are based
upon our current expectations, estimates, projections, assumptions
and beliefs. All information that is not clearly historical in
nature, including expectations regarding conversion of the
Convertible Note to equity at a minimum of a 15% discount to the
pre-money valuation of TRADE X's next qualified financing round,
constitute forward-looking statements. Forward-looking statements,
by their nature, are based on assumptions and are subject to known
and unknown risks and uncertainties, both general and specific,
that contribute to the possibility that the forward-looking
statement will not occur. The forward-looking statements in this
press release speak only as of the date hereof and reflect several
material factors, expectations and assumptions. Undue reliance
should not be placed on any predictions or forward-looking
statements as these may be affected by, among other things,
changing external events and general uncertainties of the business.
A discussion of the material risks applicable to us can be found in
Aimia's current Management Discussion and Analysis and Annual
Information Form, each of which have been or will be filed on SEDAR
and can be accessed at www.sedar.com. Except as required by
applicable securities laws, forward-looking statements speak only
as of the date on which they are made and we disclaim any intention
and assumes no obligation to publicly update or revise any
forward-looking statement, whether as a result of new information,
future events or otherwise.
SOURCE Aimia Inc.