Case Study - Check-Cap Ltd. and Nobul AI Corp. Fairness Opinion
We are pleased to share ArcStone's latest case study highlighting our cross-border credentials and expertise.
On March 25, 2024, Nobul AI Corp. ("Nobul") and Check-Cap Ltd. ("Check-Cap") have announced a definitive agreement for a business combination that will result in a majority stake for Nobul's stockholders, aiming to establish a leading AI-driven fintech marketplace headquartered in Toronto. The merger, pending Check-Cap shareholder approval and other customary conditions, will see Nobul's executive team, led by CEO Regan McGee, take the helm of the newly combined entity, which plans to apply for listings on both the NASDAQ and TSX. This strategic move, supported by Check-Cap's Board after a thorough review, is intended to enhance shareholder value and leverage Nobul's successful track record in M&A to pursue further growth opportunities.
This strategic alliance is anticipated to catalyze significant growth, as evidenced by the substantial appreciation of Check-Cap shares post-announcement, marking a 40.31% premium to the pre-announcement closing price. In our role as advisor to Check-Cap's Board of Directors, ArcStone Securities and Investments Corp., in partnership with Kingswood Capital Partners LLC, was entrusted to conduct a comprehensive Fairness Opinion. This critical analysis serves to ensure that the proposed transaction aligns with the best interests of Check-Cap's shareholders, providing an objective assessment of the financial aspects of the deal.
Achieving this within an extraordinarily compressed timeframe, our team leveraged deep industry expertise and a meticulous analytical approach to deliver a Fairness Opinion that upholds our commitment to integrity, diligence, and excellence. This endeavour underscores our capability to execute high-stakes advisory services under demanding deadlines, reflecting our unwavering dedication to our clients' success.
We at ArcStone Securities and Investments Corp., together with Kingswood Capital Partners LLC, are honoured to contribute to this transformative transaction, reaffirming our position as trusted advisors in the financial and investment landscape. We look forward to continuing to serve our clients and stakeholders with the highest standards of excellence and integrity.