On August 16, 2019, Callidus Capital Corporation announced that it has entered into a definitive agreement with Braslyn Ltd. pursuant to which Braslyn will acquire all of the issued and outstanding common shares of the Company held by persons other than Braslyn, certain investment funds managed by The Catalyst Capital Group Inc., Newton Glassman and James Riley by way of a court-approved Plan of Arrangement under the Business Corporations Act. The Company stated that pursuant to the transaction, each common share held by minority shareholders will be acquired by Braslyn for cash consideration of $0.75.