MDWT - Midwest Holding stocks skyrocket after agrees to be acquired by Antarctica Capital for $27.00/share
2023-05-01 09:12:50 ET
- Antarctica Capital to acquire Midwest Holding ( NASDAQ: MDWT ) in an all-cash transaction valued at ~$100M.
- Per the terms, Midwest shareholders will receive $27.00 in cash per share, representing a 97% premium to the company's closing share price on April 28, 2023, and a 75% premium over Midwest's 30-day volume-weighted average price as of April 28, 2023.
- Pursuant to the closure, Midwest will continue to be led by its current leadership team.
- Further, Midwest is expected to maintain its name, personnel, headquarters in Lincoln, Nebraska, and operational hubs in New York and Vermont.
- The deal has been unanimously approved by Midwest's board and is expected to close in the second half of 2023.
- The deal is not subject to any financing conditions.
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Midwest Holding stocks skyrocket after agrees to be acquired by Antarctica Capital for $27.00/share