CALGARY, Canada--(BUSINESS WIRE)--Jun 15, 2026--
Blackline Safety Corp. (“Blackline” or the “Company”) (TSX:BLN), a global leader in connected safety technology, today announced that shareholders of the Company (the “ Shareholders ”) have approved the previously announced plan of arrangement (the " Arrangement ") with an affiliate of Francisco Partners Management, L.P. (the " Purchaser ") at a special meeting of Shareholders held today (the " Meeting "). Pursuant to the Arrangement, the Purchaser will acquire: (I) all of the issued and outstanding shares of the Company (“ Shares ”) (other than in respect of certain Shares that will be rolled over for equity of the Purchaser or an affiliate thereof (the " Rollover Shares ")) for up to $9.50 per Share, comprised of $9.00 per Share in cash on closing of the Arrangement plus a contingent value right of up to $0.50 per Share; and (ii) all of the Rollover Shares for equity of the Purchaser or an affiliate thereof.
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The special resolution approving the Arrangement required approval by at least: (i) 66 2/3% of the votes cast by Shareholders present in person or represented by proxy at the Meeting; and (ii) a simple majority of the votes cast by Shareholders present in person or represented by proxy at the Meeting, excluding those votes attached to Shares held by Shareholders required to be excluded pursuant to Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (" MI 61-101 ").
The voting results from the Meeting are as follows:
Subsequent to the Meeting, Blackline also obtained a final order approving the Arrangement from the Court of King's Bench of Alberta. The Arrangement remains subject to customary closing conditions and is expected to close in late June or early July.
For additional details regarding the voting results for the Meeting, see the Company's Report of Voting Results filed pursuant to Section 11.3 of National Instrument 51-102 – Continuous Disclosure Obligations available on the Company's profile on SEDAR+ at www.sedarplus.ca.
Additional information regarding the Arrangement is available in Blackline's management information circular dated May 12, 2026, available under Blackline's profile on SEDAR+ at www.sedarplus.ca.
About Blackline Safety: Blackline Safety is a technology leader driving innovation in the industrial workforce through IoT (Internet of Things). With connected safety devices and predictive analytics, Blackline enables companies to drive towards increased safety and improved operational performance. Blackline provides wearable devices, personal and area gas monitoring, cloud-connected software and data analytics to meet demanding safety challenges and enhance overall productivity for organizations with customers in more than 75 countries. Armed with cellular and satellite connectivity, Blackline provides a lifeline to tens of thousands of people, having reported over 336 billion data-points and initiated over eight million emergency alerts. For more information, visit BlacklineSafety.com and connect with us on Facebook, X (formerly Twitter), LinkedIn and Instagram.
Note Regarding Forward-Looking Statements
This news release contains forward-looking statements and forward-looking information (collectively "forward-looking information") within the meaning of applicable securities laws. These statements relate to future events or the Company's future performance. All statements other than statements of historical fact may be forward-looking statements. The use of any of the words "estimate", "will", "would", "believe", "plan", "expected", "potential", and similar expressions are intended to identify forward-looking statements. In particular, and without limiting the foregoing, this news release contains forward-looking statements with respect to: expected timing of closing of the Transaction; the potential that the contingent value rights will result in an additional cash payment to Shareholders; that the Rollover Shareholders will exchange their applicable Shares for shares of the Purchaser or an affiliate thereof; and other similar statements.
Blackline provided such forward-looking information in reliance on certain expectations and assumptions that it believes are reasonable at the time. The material assumptions on which the forward-looking information in this news release are based, and the material risks and uncertainties underlying such forward-looking information, include: the satisfaction of the conditions in the Arrangement Agreement and the risk that such conditions are not satisfied, or to the extent permitted, waived; the risk no additional cash consideration will be payable in respect of the contingent value rights; risk that the Transaction may be varied, accelerated or terminated in certain circumstances and the consequences thereof; the continuation of USMCA and other applicable trade agreements; the effects of hostilities in the Middle East and elsewhere; that future business, regulatory, and industry conditions will be within the parameters expected by Blackline, including with respect to prices, margins, demand, supply, product availability, supplier agreements, availability, and cost of labour and interest, exchange, and effective tax rates; projected capital investment levels, the flexibility of capital spending plans, and associated sources of funding; cash flows, cash balances on hand, and access to the Company's credit facility being sufficient to fund capital investments; foreign exchange rates; near-term pricing and continued volatility of the market; accounting estimates and judgments; the ability to generate sufficient cash flow to meet current and future obligations; the Company's ability to obtain and retain qualified staff and equipment in a timely and cost-efficient manner; the Company's ability to carry out transactions on the desired terms and within the expected timelines; forecast inflation, including on the Company's components for its products, regulatory changes, supply chain disruptions, macroeconomic conditions, U.S.-Canada tariffs, the impacts of the military conflicts on the global economy; and other assumptions, risks, and uncertainties described from time to time in the filings made by Blackline with securities regulatory authorities.
Although Blackline believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because Blackline can give no assurance that they will prove to be correct. Forward-looking information addresses future events and conditions, which by their very nature involve inherent risks and uncertainties, including the risks set forth above and as discussed in Blackline's Management's Discussion and Analysis (“MD&A”) and Annual Information Form for the year ended October 31, 2025 and available on SEDAR+ at www.sedarplus.ca. Blackline's actual results, performance or achievement could differ materially from those expressed in, or implied by, the forward-looking information and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking information will transpire or occur, or if any of them do so, what benefits Blackline will derive therefrom. Management has included the above summary of assumptions and risks related to forward-looking information provided in this press release in order to provide readers with a more complete perspective on Blackline's future operations and such information may not be appropriate for other purposes. Readers are cautioned that the foregoing lists of factors are not exhaustive. These forward-looking statements are made as of the date of this press release and Blackline disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.
Blackline Safety headquarters in Calgary, Alberta.
