MiX Telematics (MIXT) has provided an announcement.
MiX Telematics Limited is set to become an indirect, wholly owned subsidiary of PowerFleet, Inc. following a strategic acquisition through a scheme of arrangement. Shareholders of MiX Telematics will receive Powerfleet shares as part of the transaction, with provisions for cash payments in lieu of fractional shares. The value of these cash payments will be determined based on a discounted average traded price of Powerfleet shares on Nasdaq, ensuring a fair and regulated conversion process for all involved parties.
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