Blue Ant Media readies reverse takeover
By Derek Winkler
Blue Ant Media of Toronto has entered into a reverse takeover agreement with Boat Rocker Media of Toronto. Through the agreement, Blue Ant will become a publicly traded company. Boat Rocker will acquire all outstanding shares of Blue Ant, after which the company will be renamed Blue Ant Media Corp. At the conclusion of the transaction, the former Blue Ant shareholders will own 73.5% of the new entity, while the former Boat Rocker shareholders will own 26.5%. The new entity will also own Boat Rocker production companies Insight Productions, Jam Filled Entertainment and Proper Television. Current Blue Ant CEO Michael MacMillan will become CEO of the new entity, while Brad Martin, the current chair of Blue Ant, will become chair of the new entity.
“This is an opportunistic moment for Blue Ant to go public, paving the way for long-term value creation,” said MacMillan. “We are confident that this transaction will unlock significant value for all shareholders. Through the combination of our public listing, a strengthened balance sheet, and significant net cash post-transaction, we believe that we are strategically positioned for profitable global growth.”