Extracted from this filing and checked against the source text.
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 1.0
PROGRESS SOFTWARE CORP /MA entered into Stock Purchase Agreement with Vector Maven Holdings, Inc., Vector Maven Holdings, L.P. valued at approximately $355 million (effective 2023-01-03).
- Action
- entry
- Agreement
- asset purchase
- Counterparty
- Vector Maven Holdings, Inc., Vector Maven Holdings, L.P.
- Value
- approximately $355 million
- Effective
- 2023-01-03
Exact text from the filing
On January 3, 2023, Progress Software Corporation (“Progress”) entered into a Stock Purchase Agreement (the “Purchase Agreement”) with Vector Maven Holdings, Inc., a Delaware corporation (the “Company”), and Vector Maven Holdings, L.P. (the “Seller”), pursuant to which Progress has agreed to acquire from the Seller all of the outstanding equity interests of the Company (the “Purchased Shares”), as a result of which the Company and its wholly-owned subsidiaries, including MarkLogic Corporation and Smartlogic Holdings Limited, will become wholly-owned subsidiaries of Progress. The transactions contemplated by the Purchase Agreement are collectively referred to as the “Transaction”. At the closing of the Transaction (the “Closing”), Progress will acquire the Purchased Shares from the Seller for an aggregate purchase price of approximately $355 million, subject to certain working capital and other adjustments (the “Purchase Price”).
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