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Summary
- Think Research Corp stocks began closed their debut trading day at a price of C$ 4.9 on Wednesday, valuing the company at over C$ 175 million.
- AIM4 Ventures Inc signed a non-binding letter of intent Think Research’s parent company TRC Management Holdings Corp back in October.
- The stocks conducted trading under the symbol of ‘THNK’.
Stocks of Canadian health care tech company Think Research Corp began trading on the Toronto Stock Exchange Venture (TSXV) on Wednesday, December 30, following a reverse takeover of blank check company AIM4 Ventures Inc (TSXV: AIMD.P). The stocks conducted trading under the symbol of ‘THNK’.
Think Research Corp shares began trading at about C$ 5.75 and closed at a price of C$ 4.9 on Wednesday, dropping over 14 per cent on debut day. The company’s current market is over C$ 175 million. Its share movement volume stood at 0.22 million after one day of trading, while its price-to-book (P/B) ratio was 70 and its price-to-earnings (P/E) ratio was 20.5.
The Reverse Takeover Between AIM4 Ventures & Think Research Corp
AIM4 Ventures Inc signed a non-binding letter of intent Think Research’s parent company TRC Management Holdings Corp back in October, which noted a proposed transaction to buy TRC’s issued and outstanding securities. Following the transaction, which was closed on December 30, the combined company is set to function under TRC Management Holdings Corp.
The reverse takeover also saw TRC Management Holdings hold a private placement offering of C$ 33 million earlier for gross proceeds of C$ 32.9 million, Think Research reported in a statement.
In its latest financial filings, AIM4 Ventures Inc reported total assets of C$ 0.786 million and a working capital of C$ 774 million in the quarter ending 30 September 2020.
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A Little Background About Think Research Corp
Think Research Corp came into being in 2006, after raising a capital of about $ 50 million on private markets. The Toronto-based company delivers integrated digital health care solutions to large-scale payer networks and organizations, mostly focusing on hospitals, acute care and seniors care. Its services are reportedly available in more than 2,000 facilities across Canada, the United States and European Union.
Earlier in December, mental health care company MindBeacon Holdings Inc also debuted on the TSX, following an IPO of C$ 50 million.
