Local software and technology development company Investia Technologies is seeking an ASX listing through a reverse takeover of Advanced Engine Components.
Under the terms of the deal, AEC will wholly acquire Investia in exchange for 17.5 million shares at 2 cents each, valuing the business at $350,000.
AEC will also issue 17.5 million options at 3 cents each and up to 32.5 million deferred consideration shares at 2 cents each, subject to the achievement of certain performance milestones.
The combined company will adopt Investia’s software as a service and financial services business model, and will be renamed Ookami Limited.
In order to comply with ASX relisting rules, the company will be required to complete a minimum $3.4 million capital raising at 3 cents per share.
Investia’s platform provides Australian financial service licence holders with a managed solution to capital raisings and distribution of public and private offerings, with peer-to-peer capabilities.
“The Investia platform combines and all-in-one solution, including data collection, client management, offer generation and auditing systems,” AEC said in a statement.
“Further intuitive features include the creation and marketing of public and private offer documents, encrypted storage of client information, share registry submission and many others.”
The new company is expected to begin trading under its new name and business model by November.
AEC shares have been suspended from trade since April 2011.