GTYH - GTY Technology rallies as investment firm agrees to pay 123% premium in taking the company private
GTY Technology Holdings (NASDAQ:GTYH) announced deal to go private in a sale transaction for $6.30 cash per share in return. The news has sent stock jump 120% in the premarket trading on Friday. Software-as-a-Service company, GTY said it has signed a definitive agreement to be acquired by private investment firm - GI Partners. Upon closing of the transaction, each GTY shareholder is to receive $6.30 in cash that represents a a 123% premium on the stock's last close. "GI Partners has an excellent track record of supporting and adding value to leading software companies, and we are delighted to bring on a partner of GI Partners’ caliber," said TJ Parass, CEO of GTY. "This transaction will provide immediate and substantial value to GTY shareholders. The Company will have greater flexibility to focus on executing our strategy, and we are excited to begin our long-term partnership with GI Partners." GTY’s Board has
For further details see:
GTY Technology rallies as investment firm agrees to pay 123% premium in taking the company private