MONTRÉAL, Feb. 17, 2026 /CNW/ - SRTX Inc. ("SRTX" or the "Company"), the Canadian materials innovator behind Sheertex®, today announced that it has entered into a definitive agreement with A.Y.K International Inc., a Canadian hosiery-focused company (the "Purchaser") following completion of its previously announced strategic review process.
In connection with the proposed transaction, SRTX has filed a Notice of Intention to Make a Proposal (the "NOI") pursuant to the Bankruptcy and Insolvency Act, (the "BIA"), with PricewaterhouseCoopers Inc. acting as trustee. The NOI filing is intended to provide an orderly process to seek court approval of the transaction.
The transaction is the result of a competitive process undertaken to identify the best available outcome for the Company and its stakeholders. Subject to court approval, the Purchaser is expected to support continuity of the Sheertex brand and the continued commercialization of SRTX's proprietary materials technology. Certain assets are excluded from the transaction, including the Company's Pointe-Claire lease and certain machinery and equipment, which will be addressed in the NOI proceedings.
Throughout the strategic review process, SRTX has continued to operate and remained focused on serving its customers and partners without disruption. In connection with the proposed transaction, the Purchaser intends to retain a limited number of employees to support the continued operation of the Sheertex business.
"We have long admired Sheertex -- not only for its innovation, but for its deep commitment to its craft and its customers," said Dan Abitan, Chief Executive Officer of A.Y.K International Inc. "We are pleased to welcome Sheertex into the A.Y.K. family, where the brand's expertise and advanced technology will become part of our organization as we invest in its long-term stability and growth."
SRTX will seek court approval of the transaction in the coming weeks.
PricewaterhouseCoopers Corporate Finance served as financial advisor to SRTX in connection with the strategic review process.
About SRTX
SRTX, a Certified B Corporation (B Corp), is best known for its first technology, the patent-pending Sheertex® Rip-Resist knit, made from one of the world's strongest polymers, which has revolutionized hosiery through impossibly strong tights. SRTX's mission is to advance the durability and sustainability of apparel products by building new materials and software that enable better, more sustainable textiles. Visit https://www.srtxlabs.com.
SOURCE SRTX Inc.
Media inquiries: Eva Hartling, Hartling Communications, [email protected], +1.514.804.7022
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