AssetMark to be acquired by GTCR for $35.25 per share, ~$2.7B equity value

AssetMark Financial Holdings, Inc.

Stockholders to receive $35.25/share in cash; total equity valuation of approximately $2.7 billion.
Transaction expected to close in Q4 2024, subject to regulatory approvals and customary conditions.
No financing condition; GTCR funds provide equity, and UBS/Barclays provide debt financing.
Huatai, majority stockholder, has provided written consent; no further stockholder vote needed.
Termination fees: Company pays ~$80.76M; Parent pays ~$161.52M in specified circumstances.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

AssetMark Financial Holdings, Inc. entered into Agreement and Plan of Merger with GTCR Everest Borrower, LLC valued at $35.25 per share in cash (effective 2024-04-25).

Action: entry
Agreement: merger
Counterparty: GTCR Everest Borrower, LLC
Value: $35.25 per share in cash
Effective: 2024-04-25

Exact text from the filing

AssetMark Financial Holdings, Inc., a Delaware corporation (the " Company "), entered into an Agreement and Plan of Merger (the " Merger Agreement ") by and among the Company, GTCR Everest Borrower, LLC, a Delaware limited liability company (" Parent "), and GTCR Everest Merger Sub, Inc., a Delaware corporation and a direct, wholly owned subsidiary of Parent (" Merger Sub "), pursuant to which Merger Sub will merge with and into the Company, with the Company surviving as a wholly owned subsidiary of Parent (the " Merger ").

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Source: SEC EDGAR

accession 0000950103-24-005705

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