On May 13, 2025, AnalytixInsight Inc. (TSXV: ALY) (OTCQB: ATIXF) (AnalytixInsight), announced it has amended and restated the amalgamation agreement dated March 3, 2025, among AnalytixInsight, Polymath Research Inc. (a private Canadian digital technology company (Polymath)) and 16737803 Canada Inc. (a subsidiary of AnalytixInsight), which will result in a reverse takeover of AnalytixInsight by Polymath. On May 13, 2025 Polymath entered into an asset purchase agreement dated May 13, 2025 (the Asset Purchase Agreement) among Polymath, Polymesh Association (Polymesh Switzerland) and Polymesh Labs Ltd. (Polymesh Labs), a wholly owned Cayman Islands subsidiary of Polymath. Pursuant to the Asset Purchase Agreement, Polymath, indirectly through Polymesh Labs, agreed to acquire certain assets and assumed certain liabilities of Polymesh Switzerland, including POLYX tokens held by Polymesh Switzerland.
Following completion of the transaction, AnalytixInsight and Polymath, as its new wholly owned subsidiary (referred to on a consolidated basis as the resulting issuer) will continue to carry on the business of both Polymath and AnalytixInsight, the resulting issuer will change its name to Polymath Network Inc. or a similar name, and the resulting issuer shares will be listed for trading on the TSX-V. As part of the transaction, Polymath has engaged Canaccord Genuity Corp. as sole bookrunner and Research Capital Corp. to act as co-lead agents, in connection with the concurrent financing. Closing of the transaction is conditional on, among other things, the TSX Venture Exchange approving the listing of the common shares of the resulting issuer, completion of the concurrent financing, which is initially anticipated to consist of an issuance of subscription receipts for minimum gross proceeds of $18.75 million.
BLG is representing Polymath with a team led by Julie Bogle and including George Collister, Makena Anderson, Julie Mansi and Inaki Gomez.