ZAGG - ZAGG to be acquired by buyer group led by Evercel

ZAGG (ZAGG) enters into a definitive agreement pursuant to which the buyer group led by Evercel (EVRC) will acquire all of the issued and outstanding shares for up to $4.45 per share in cash. Stockholders will receive $4.20 per share in cash upon closing and will be entitled to receive an additional contingent amount of up to $0.25 per share, to be paid if the company’s Paycheck Protection Program Loan (or PPP Loan) is forgiven and any audit related thereto is satisfactorily completed. The transaction is expected to close in Q1 of 2021.“We are pleased with the value this transaction delivers to our stockholders and believe this is a positive development for all of our stakeholders. We look forward to continuing to serve our customers through exceptional products and continued industry-leading innovation. We are optimistic about our continued growth and the support that will be provided by Evercel.” comments Chris Ahern, CEO.

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ZAGG to be acquired by buyer group led by Evercel