CREX - Creative Realities rises on acquisition offer rejection 2023 guidance increase intention

2023-03-28 08:06:29 ET

• Creative Realities ( NASDAQ: CREX ) rose ~9% Tuesday pre-market after the media solutions provider said that it has rejected an acquisition offer from Pegasus Capital Advisors and intends to increase its 2023 guidance.
• Pegasus Capital Advisors had proposed to acquire all of the outstanding shares of CREX for $0.83 per share, or considering the reverse stock split $2.49 per share, in cash.
• The company-appointed special committee of the board has concluded that such proposal undervalues the company, and is not in the best interests of the shareholders.
• Also, Creative Realities is scheduled to release its 2022 financial results on Thursday, Mar. 30.
• The company has confirmed that it exceeded its previously published target of $43M in 2022 revenue, and intends to increase the 2023 revenue guidance.
• Source: Press Release

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