06:17 AM EDT, 06/10/2024 (MT Newswires) -- Vecima Networks ( VNWTF ) over the weekend said it terminated an agreement to buy Casa Systems' its cable business assets.

At a June 4 hearing, the U.S. Bankruptcy Court for the District of Delaware approved the sale of the cable business assets to a different bidder. The agreement between Vecima and Casa Systems has been terminated in accordance with the terms of the deal.

As a result of the termination and under the terms of a subscription receipt agreement, subscription receipt holders will have their funds returned by cheque from Computershare Trust Company of Canada within three business days and all subscription receipts will be canceled.