Mobilicity adjourns recapitalization vote, in acquisition plan talks

By Caroline Salls

Pittsburgh, July 10 - Data & Audio-Visual Enterprises Holdings Inc. and its affiliates (collectively, Mobilicity) have adjourned the debtholder vote on their previously announced recapitalization plan and is in discussions with multiple parties in connection with an acquisition plan of arrangement, according to a company news release.

Mobilicity said that consistent with the exploration of all of its strategic alternatives, it has the right to reconvene the recapitalization plan vote on notice to its debtholders.

"We are working diligently to reach an acquisition agreement," president and chief operating officer Stewart Lyons said in the release.

Mobilicity is a Toronto-based wireless carrier.

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