AUTO - AutoWeb to be acquired by One Planet for $0.39/share
- AutoWeb ( NASDAQ: AUTO ) entered into a definitive merger agreement to be acquired by a subsidiary of One Planet wherein purchaser will pay a cash purchase price of $0.39/share of AutoWeb.
- Payam Zamani, One Planet Group’s CEO, will assume the role of President and CEO of AutoWeb; Jared Rowe will transition out of the business.
- The acquisition is structured as a 2-step merger, with the first step being a tender offer for all issued and outstanding shares of AutoWeb by the purchaser and the second step being a merger in which any shares not tendered would be converted into the right to receive the same cash price per share as stockholders who tendered in the tender offer.
- The parties have agreed to commence the tender offer by Aug.1, 2022.
- The merger is expected to close by Sep.16, 2022.
For further details see:
AutoWeb to be acquired by One Planet for $0.39/share