On October 13, 2023, Aimia announced a strategic investment by way of a private placement by several arm's length, seasoned strategic investors, including current and former Fortune 500 company CEOs and executives.
Mithaq Capital was subsequently unsuccessful in its application to the Ontario Capital Markets Tribunal to, among other things, cease trade the private placement. After a hearing held on December 12 and 13, 2023, the Tribunal dismissed Mithaq’s application and confirmed it would not amend or vary the approval of the private placement previously given by the Toronto Stock Exchange.
Aimia is a holding company that makes long-term investments in private and public businesses through controlling or minority stakes.
Osler, Hoskin & Harcourt LLP advised the lead investor in the private placement with a team consisting of Shahir Guindi, Alex Gorka, Will Heisey, Asma Berrak (Corporate) and Teresa Tomchak and Lauren Harper (Litigation).