Mobilicity restructures, prepares for possible acquisition

TORONTO – Mobilicity is asking its debt holders to vote next month on plans to both refinance and sell the company. The company announced Friday it obtained two orders from the Ontario Superior Court authorizing Mobilicity to hold the meetings May 21. Mobilicity said in a release that stakeholders will be asked to approve both a recapitalization plan and a sale plan. Approval of both plans would enable the company to sell, or to recapitalize if a sale cannot be completed. The sale plan provides a structure for an as yet to be determined purchaser to acquire all of the outstanding shares...