On September 12, 2024, Altius Renewable Royalties Corp. (ARR) entered into a definitive agreement with Royal Aggregator LP, an affiliate of Northampton Capital Partners, to be acquired for C$12.00 per share in cash. This represents a 28% premium to its September 4, 2024, closing price. Altius Minerals, which holds 58% of ARR’s shares, will retain its stake, while the Purchaser will acquire 43% of the outstanding shares. National Bank Financial (NBF) provided an independent valuation, determining the fair value range of C$10.50 to C$12.50 per share, and concluded that the offer is financially fair to ARR’s minority shareholders.

The deal, expected to close in Q4 2024, requires approval from 66 2/3% of shareholders, with Altius Minerals excluded from the minority vote. Advisors include McCarthy Tétrault LLP and Pierce Atwood LLP for ARR, and Kirkland & Ellis LLP and Mintz LLP for Northampton. A termination fee of US$6.75 million applies under specific conditions. Upon closing, ARR will be delisted from the TSX and cease reporting in Canada.