Mattr Announces Expiration of HSR Act Waiting Period for AmerCable Acquisition and Conversion of Debt Subscription Receipts

TORONTO, Dec. 24, 2024 (GLOBE NEWSWIRE) — Mattr Corp. (“Mattr” or the “Company”) (TSX: MATR) announced today that the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (“HSR Act”), applicable to Mattr’s previously announced agreement to acquire AmerCable Incorporated (“AmerCable”), has expired. With the regulatory approval under the HSR Act secured (“HSR Approval”), Mattr expects the balance of the conditions to closing of this transaction to be achievable within a timeline which will permit completion of the transaction on or about January 2, 2025. Under the terms of the contemplated transaction, upon closing, Mattr will acquire all of the outstanding shares of AmerCable from Nexans USA Inc. (EPA:NEX) for a purchase price of US$280M.

Following receipt of HSR Approval, the Company delivered notice to TSX Trust that the escrow release conditions under the subscription receipt indenture entered into on December 19, 2024 in connection of its previously announced private placement offering (the “Offering”) [see press release] of 125,000,000 debt subscription receipts (the “Subscription Receipts”) have been satisfied. As a result, the net proceeds of the Offering will be released from escrow to the Company and holders of the Subscription Receipts will receive, without payment of additional consideration or further action, a newly authenticated 7.25% senior unsecured note of the Company due April 2, 2031, in a principal amount of $1,000, per 1000 Subscription Receipts held.

The Company intends to utilize the net proceeds of the Offering to fund a portion of the AmerCable acquisition.

About AmerCable

AmerCable is a manufacturer of highly engineered, low and medium voltage electrical power, control and instrumentation cables designed to reliably enable electrification in harsh environments. AmerCable serves a broad customer base within the critical infrastructure sector, including the mineral extraction, renewable power generation, general industrial and energy end markets.

About Mattr

Mattr is a growth-oriented, global materials technology company broadly serving critical infrastructure markets, including transportation, communication, water management, energy and electrification.  Its two business segments, Composite Technologies and Connection Technologies, enable responsible renewal and enhancement of critical infrastructure while lowering risk.

For further information, please contact

Meghan MacEachern
VP, External Communications & ESG
Telephone: 437.341.1848
Email: meghan.maceachern@mattr.com
Website: www.mattr.com

Source: Mattr Corp.