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SatixFy Communications Ltd. (NYSE American:SATX) completed its previously announced merger with MDA Space Ltd. on Wednesday. The transaction was carried out under an agreement signed on April 1, 2025, and amended on May 20, 2025. As a result of the merger, SatixFy became an indirect wholly owned subsidiary of MDA Space.
Under the terms of the merger, each outstanding ordinary share of SatixFy was converted into the right to receive $3.00 in cash, subject to applicable taxes. Holders of “in-the-money” stock options received a cash payment equal to the difference between $3.00 and the exercise price per share, multiplied by the number of shares underlying the option, less withholding taxes. “Out-of-the-money” options were cancelled without consideration. Restricted shares and restricted stock units became fully vested and were also converted into the right to receive $3.00 per share, less applicable taxes. Outstanding warrants ceased to represent the right to receive ordinary shares and instead became exercisable for the merger consideration.
On the closing date, SatixFy’s board of directors approved the voluntary delisting of its ordinary shares from the NYSE American and the deregistration of the shares with the U.S. Securities and Exchange Commission. The company notified the exchange of the merger’s completion and its intention to halt trading, withdraw its shares from listing, and file for deregistration. As a result, SatixFy’s shares, which traded under the symbol “SATX,” will no longer be listed on the NYSE American.
Following the satisfaction of applicable deregistration conditions, SatixFy also intends to file a certification to suspend its reporting obligations under U.S. securities laws for its ordinary shares and certain warrants. The company has reserved the right to delay or withdraw these filings.
This information is based on a press release statement included in a recent SEC filing.
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