Jovian Capital Corp. has entered into a binding letter of intent to acquire an approximately 15% further interest in BetaPro Management Inc. for $5,224,000, in cash and debt.

The deal is expected to be completed by the end of April, subject to regulatory and board approvals.

In addition, as announced on February 26, Jovian has previously entered into a separate binding letter of intent to acquire an approximately 5% additional interest in BetaPro. Jovian says that that letter of intent has been modified to increase Jovian’s purchase to approximately 6% of BetaPro for an adjusted purchase price of $2,089,520. That transaction is expected to be completed by the end of April as well.

Following completion of both transactions, Jovian’s interest in BetaPro will be approximately 60%.

BetaPro provides investment products to investors mainly in the form of exchange-traded funds.