TORONTO, Sept. 04, 2025 (GLOBE NEWSWIRE) -- Further to its news release on July 18, 2025, Optiva Inc. (TSX: OPT) ("Optiva" or the "Company"), a leader in powering the telecom industry with cloud-native billing, charging and revenue management software on private and public clouds, today announced that it has entered into an amended support agreement dated September 3, 2025 with holders ("Noteholders") of approximately 85% of its outstanding principal amount of 9.75% senior secured PIK toggle notes due July ...

Core Viewpoint - Optiva Inc. has entered into a Support Agreement with holders of approximately 85% of its outstanding 9.75% senior secured PIK toggle notes, allowing for a 45-day grace period to negotiate a Potential Transaction [1][2]. Group 1: Support Agreement and Grace Period - The Support Agreement provides a 45-day grace period for Optiva's special committee to negotiate with Noteholders and potential merger partners [2]. - During this grace period, Noteholders have agreed to forbear from exercising their rights related to any payment default on the Notes due July 20, 2025 [2]. Group 2: Financial Position and Operations - Optiva has approximately $12 million in cash as of July 13, 2025, ensuring business continuity and the ability to meet financial commitments [3]. - The company will continue to operate normally, fulfilling commitments to customers, employees, and suppliers during this period [10]. Group 3: Potential Transaction Details - The Potential Transaction involves exchanging the outstanding principal amount of the Notes and accrued interest for a combination of shares and new notes, along with a merger with a strategic third party [4][10]. - Common shareholders of Optiva are expected to receive nominal consideration for their shares in connection with the Potential Transaction [4][10]. Group 4: Repayment and Financial Obligations - The repayment of approximately $108.6 million in principal and $5.2 million in accrued interest due on July 20, 2025, will be addressed as part of the Potential Transaction if reached within the grace period [5]. Group 5: Regulatory and Approval Requirements - Completion of any Potential Transaction will require approval from Optiva's securityholders, court approvals if structured as a plan of arrangement, Toronto Stock Exchange approval, and necessary regulatory approvals [7].

Core Viewpoint - Workhorse Group Inc. is in discussions for a potential merger with a privately held U.S.-based manufacturer of electric commercial vehicles, which may significantly alter the ownership structure of the company [1][2]. Company Overview - Workhorse Group Inc. focuses on the transition to zero-emission commercial vehicles and is exploring a merger with a manufacturer in the same sector [1][2]. Potential Transaction Details - The merger would involve the manufacturer being merged into a newly created subsidiary of Workhorse in exchange for newly issued shares of common stock, likely resulting in the manufacturer’s investors holding a substantial majority of the outstanding shares post-transaction [2][3]. - The exact number of shares to be issued has not been determined yet [2]. Refinancing Plans - The potential transaction includes plans for refinancing approximately $33 million in outstanding senior secured convertible notes, with a new convertible note and a $20 million sale leaseback of the company's manufacturing facility in Indiana [3][4]. - The refinancing aims to fully repay the existing notes without incurring a redemption premium and to cancel related warrants [3][4]. Conditions and Timeline - The completion of the refinancing and the merger is intended to occur simultaneously, with the company planning to repay half of its obligations under the notes as a condition for executing a definitive agreement [4]. - The company has entered into an Exclusivity Agreement with the manufacturer, preventing negotiations with third parties for 14 days [5]. Regulatory and Approval Process - The consummation of the potential transaction is subject to various conditions, including stockholder approval and compliance with Nasdaq listing procedures [5][6]. - If definitive agreements are reached, the company will file a proxy statement with the SEC, and stockholders will be advised to read it carefully [6][7].