CA - Absolute Software fell earlier amid concerns about debt issues if sale goes away

2023-05-31 15:39:16 ET

• Absolute Software ( NASDAQ: ABST ) fell 1% after earlier dropping as much as 4.6% amid some investor concerns about debt issues in the event its planned sale to Crosspoint Capital is terminated or voted down.
• Absolute Software ( ABST ) disclosed in its circular (page 32) on Tuesday that if the transaction was voted down or terminated, that would trigger some debt issues under its senior credit agreement with Benefit Street Partners.
• Earlier this month, Absolute Software ( ABST ) announced its $11.50 a share sale to Crosspoint Capital.
• Edenbrook Capital, which has a 10.4% stake in Absolute ( ABST ), said almost two weeks ago that the software security company's planned $11.50 share sale to Crosspoint undervalues the company.

For further details see: