NTCP SPV VIII, an investment vehicle of private equity group Novo Tellus, has confirmed that the price for its voluntary conditional cash partial offer for shares in Procurri Corporation is final, except in the case of a “competitive situation”.

Novo Tellus and two other investor partners are proposing to acquire an additional 27.91% of all the ordinary shares in Procurri at 36.5 cents per share.

SEE:Procurri Corp posts 75% higher 1Q earnings of $1.75 mil on higher revenue & margin

The offer price represents a 32.7% premium to the closing price of 27.5 cents on the last trading date prior to the offer, which was announced on March 15.

The confirmation from Novo Tellus comes after DeClout, a substantial shareholder in Procurri, indicated that it will vote against the partial offer on April 13. DeClout currently holds around 20% of Procurri's shareholding.

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As at 9.13am, shares in Procurri are 0.5 cents or 1.39% lower at 35.5 cents.