TeraGo receives subscriptions for over $12-million

Executive Summary

• TeraGo Inc. has received subscriptions totaling over $12 million for its previously announced rights offering and concurrent private placement.
• The proceeds will satisfy a financing condition for a $21 million 36‑month term loan from EdgePoint Investment Group, intended to refinance existing debt.
• The company plans to close the recapitalization transactions on or about October 15, 2025, subject to TSX and other regulatory approvals.

Key Details

• Subscriptions received exceed $12 million, covering both rights exercised by shareholders and standby commitments for the private placement.
• The financing package includes a standby commitment of $4 million from Cymbria Corp., managed by EdgePoint.
• EdgePoint Investment Group has committed to a $21 million U.S. term loan (36‑month maturity) contingent on securing the $12 million equity financing.
• The term loan will be used to refinance TeraGo’s current term debt facility.
• Closing of the recapitalization (rights offering, private placement, and term loan) is targeted for October 15, 2025, subject to customary conditions and TSX approval.
• All transactions remain subject to TSX approval and other required consents.

Notable Quotes

(No direct quotes were provided in the release.)