FOCS - Focus Financial announces expiration of 'Go-Shop' period

2023-04-10 08:29:45 ET

• Focus Financial Partners ( NASDAQ: FOCS ) has announced the expiration of the 40-day "go-shop" period under the terms of the previously announced definitive merger agreement.
• Pursuant to which affiliates of Clayton, Dubilier & Rice, will acquire Focus for $53/share in an all cash transaction.
• Funds managed by Stone Point Capital have agreed to retain a portion of their investment in Focus and provide new equity financing as part of the proposed transaction.
• Pursuant to the terms, the Special Committee of the Board of Focus and its advisors had the right to actively initiate, solicit and consider alternative acquisition proposals from third parties during the go-shop period.
• The transaction is expected to close in the Q3 2023.

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