02:43 PM EDT, 04/02/2024 (MT Newswires) -- MediaValet ( VRXWF ) , a provider of enterprise digital asset management, video content management and creative operations software, on Tuesday said it completed of its plan of arrangement under the Business Corporations Act (Alberta).

Rob Chase, the company's chief executive, said in a statement: "The successful completion of this transaction marks an important moment in the evolution of MediaValet ( VRXWF )."

Pursuant to the terms of the arrangement: River Acquisition Corp., an affiliate of STG Partners, acquired all of the issued and outstanding common shares of the company in exchange for $1.71 in cash per share. The purchaser holds 43.8 million shares, representing 100% of the issued and outstanding shares.

Andrew Shen, chair of the company's board, said in a statement: "We extend our deepest gratitude to our shareholders for their unwavering support and confidence in our journey. We wish the very best of luck and success to Rob, Dave, and the STG team as they lead the company into its next phase of growth and innovation."