DAK Capital in connection with the proposed acquisition of Blackline Safety Corp. by Francisco Partners DAK Capital in connection with the proposed acquisition of Blackline Safety Corp. by Francisco Partners

On April 8, 2026, Blackline and an affiliate of Francisco Partners entered into an arrangement agreement, pursuant to which the purchaser agreed to acquire all of the issued and outstanding common shares (the shares) of Blackline (other than in respect of the rollover shareholders) (the transaction) for up to $9.50 per share (the total consideration), comprised of $9.00 per share in cash on closing (the cash consideration) plus a contingent value right of up to $0.50 per share (the CVR). The cash consideration and total consideration (assuming the maximum cash payment of the CVR) represent an aggregate fully diluted equity value of approximately $804 million and $850 million, respectively, based on 100% of the company’s shares and excluding the impact of rollover shares.

In connection with the transaction, DAK Capital Inc. (DAK), the largest shareholder of the company, the Lowy Family Group, Cody Slater, the chairman and chief executive officer of the company, and Brad Gilewich, president of DAK and a nominee director of the company (collectively, the rollover shareholders), have entered into equity rollover agreements with the purchaser pursuant to which they have agreed to exchange all or a portion of their shares (such applicable shares, the rollover shares) for shares of the purchaser or an affiliate thereof. The shares subject to the equity rollover agreements represent approximately 31% of the issued and outstanding shares.

DAK is one of several investment vehicles of Edmonton Oilers owner Daryl Katz. With over $10 billion in capital, DAK invests in private and public companies, globally, and is based in Edmonton, Alberta, Canada.

Osler, Hoskin & Harcourt LLP advised DAK with a team consisting of James Brown, Jeremy Fraiberg, Rob Valentini (Corporate), Patrick Marley and Sean Timlick (Tax).