ABST - Crosspoint Capital Partners to acquire Absolute Software for $870M

2023-05-11 09:14:48 ET

• Crosspoint Capital Partners whereby Crosspoint has agreed to acquire all shares of Absolute Software.
• Under the terms agreement, Absolute shareholders will receive $11.50 per share in cash, corresponding to an enterprise value of a ~$870M, inclusive of the debt.
• The cash consideration represents a premium of 34% and 38% to the closing price and 30-day volume-weighted average price, respectively, of shares on the Nasdaq on May 10, 2023.
• The stock price has surged 32% on Thursday early hours.

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