TRHC - Tabula Rasa going private; will merge with ExactCare Pharmacy

2023-08-07 08:14:55 ET

• Tabula Rasa HealthCare ( NASDAQ: TRHC ) has reached a deal with Nautic Partners to be taken private and combine with ExactCare Pharmacy, which is already owned by the private equity firm.
• Tabula Rasa ( TRHC ) is up ~30% in premarket trading Monday.
• Terms call for Nautic to pay Tabula Rasa ( TRHC ) shareholders $10.50 in cash per share, which values the healthcare technology company at $570M, including debt of $262M.
• The $10.50 per share price offer is ~34% premium to Tabula Rasa's ( TRHC ) closing price on Aug. 4.
• Tabula Rasa's ( TRHC ) board has unanimously agreed to the deal and Indaba Capital Management, it's largest sharedholder with ~25% equity stake, is also on board.
• The transaction is expected to complete in Q4.

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