USER - UserTesting announces expiration of go-shop period for $1.3B buyout deal
- UserTesting ( NYSE: USER ) announced on Tuesday the expiration of “go-shop” period under the terms of the previously announced merger agreement with private equity firms Thoma Bravo and Sunstone Partners.
- The digital customer insight company is to be sold to the PE firms in an all-cash transaction that values UserTesting at approximately $1.3B . The transaction is expected to close in the first half of 2023, subject to customary closing conditions, including approval by UserTesting ( USER )shareholders and receipt of regulatory approvals.
- Upon closing of the transaction, UserTesting’s ( USER ) common stock will no longer be listed on any public market.
- The “go-shop” period expired at 11:59 p.m. ET on December 10, 2022. During the period UserTesting ( USER ) did not receive any alternative acquisition proposals from any third party.
- USER shares are down ~2% premarket
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UserTesting announces expiration of "go-shop" period for $1.3B buyout deal