Optiva Inc. Extends Forbearance Period with Noteholders to Continue Negotiations with Noteholders and Third Parties regarding a Potential Transaction

Core Viewpoint - Optiva Inc. has entered into an amended support agreement with holders of approximately 85% of its outstanding 9.75% senior secured PIK toggle notes, extending the grace period for negotiations regarding a potential merger transaction until September 30, 2025 [1][2] Group 1: Financial and Transaction Details - The grace period for the 9.75% senior secured PIK toggle notes, originally set to expire on September 3, 2025, has been extended to September 30, 2025 [1] - During this grace period, noteholders have agreed to forbear from exercising their rights related to any payment default on the notes maturing on July 20, 2025 [1] - Optiva is negotiating a potential transaction that may involve exchanging the outstanding principal amount of the notes plus accrued interest for shares and new notes of the combined company [2] Group 2: Shareholder Impact - Common shareholders of Optiva are expected to receive nominal consideration for their shares in connection with the potential transaction [2] - If a definitive agreement is reached within the grace period, the repayment of the notes will be addressed as part of the potential transaction [2] Group 3: Operational Continuity - Despite ongoing negotiations, Optiva plans to continue operating in the ordinary course and uphold commitments to customers, employees, and suppliers [2]