NEW YORK, March 24, 2020 /CNW/ - EastBay Asset Management, LLC ("EastBay"), in its capacity as investment manager of the EastBay Master Fund, LP (the "EastBay Fund"), announced today that on March 24, 2020, the EastBay Fund disposed of an aggregate of 4,597,498 variable voting shares of WildBrain Ltd. (the "Issuer") by way of a distribution in kind (the "Distribution") for no consideration to certain investors in the EastBay Fund. The variable voting shares distributed represent approximately 2.7% of the issued and outstanding voting securities of the Issuer (being the common shares and variable voting shares of the Issuer (collectively, the "Shares")).
As a result of the Distribution, EastBay, through the EastBay Fund, currently exercises control or direction over an aggregate of 19,542,056 variable voting shares, representing 11.4% of the issued and outstanding Shares. Prior to the Distribution, EastBay, through the EastBay Fund, exercised control or direction over an aggregate of 24,139,554 variable voting shares of the Issuer, representing 14.1% of the issued and outstanding Shares.
The Distribution was completed pursuant to the terms of the constating documents of the EastBay Fund in the ordinary course of business. EastBay may, from time to time, on its own behalf or on behalf of the EastBay Fund or other client accounts, acquire additional securities, dispose of some or all of the currently held or additional securities or may continue to hold the securities of the Issuer.
An early warning report relating to these transactions will be filed on the System for Electronic Document Analysis and Review ("SEDAR") under the Issuer's profile and can be viewed at www.sedar.com.
SOURCE EastBay Asset Management, LLC
For further information: or to obtain a copy of the early warning report, please contact: Jeff Ho, Chief Financial Officer, EastBay Asset Management, LLC, 650 Fifth Avenue, Suite 1640, New York, NY 10019, Tel: 212.702.7155, Fax: 212.702.7149, [email protected]