Stamps.com shares surges 14% in premarket trading,as going private at $330 per share in $6.6B cash deal with Thoma Bravo

Tiger Newspress2021-07-09

Stamps.com shares surges 14% in premarket trading,as going private at $330 per share in $6.6B cash deal with Thoma Bravo.

  • Stamps.com(NASDAQ:STMP)stockholders toreceive $330.00 per share in cash.
  • The offer price per share represents a premium of 66.9% over Stamps.com's closing share price on July 08, 2021.
  • Stamps.com’s Board of Directors has unanimously approved the agreement with Thoma Bravo.
  • Post-completion, Stamps.com will become a private company with the flexibility and resources to provide global e-commerce technology solutions.
  • Additionally, Stamps.com will benefit from the operating capabilities, capital support, and deep sector expertise of Thoma Bravo.
  • The agreement includes a 40-day “go-shop” period expiring August 18, 2021, allowing the Board and its advisors to actively initiate, solicit and consider alternative acquisition proposals from third parties.
  • The transaction is expected to close in Q3'21, subject to customary closing conditions, including approval by Stamps.com stockholders and receipt of regulatory approvals.
  • Stamps.com to resume trading at 8 a.m. ET
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

Leave a comment
37