April 12 (Reuters) - 3P Learning Ltd (3PL) :
- 3PL ENTERS INTO AGREEMENT TO ACQUIRE BLAKE ELEARNING
- TO MERGE WITH BLAKE ELEARNING BY BUYING 100% OF BLAKE FROM PASCAL EDUCATIONAL SERVICES
- WILL ISSUE 137.0 MILLION SHARES TO SELLERS, REPRESENTING 49.6% OF MERGED COMPANY'S ISSUED SECURITIES
- MERGECO WILL HAVE PRO FORMA CY20 REVENUE OF $100.5 MILLION AND PRO FORMA CY EBIT OF $20.8 MILLION
- MERGER IS EXPECTED TO BE ABOUT 279% EARNINGS PER SHARE ACCRETIVE ON A PRO FORMA CY20 BASIS
- SHARE EXCHANGE AS PART OF DEAL IMPLIES PURCHASE PRICE OF $185 MILLION
