CoStar Group to acquire Matterport for $5.50 per share ($2.75 cash + $2.75 stock), ~$2.1B equity value

Matterport, Inc./DE

Total consideration of $5.50 per Matterport share: $2.75 cash plus $2.75 in CoStar Group common stock.
Equity value of approximately $2.1 billion; enterprise value of approximately $1.6 billion.
Voting agreement with stockholders representing ~15% of voting power to approve the merger.
Termination fee of $50M from Matterport if it changes recommendation; $85M from CoStar if antitrust failure.
Matterport's Board of Directors unanimously approved the merger; expected close in 2024.

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

Matterport, Inc./DE entered into Agreement and Plan of Merger and Reorganization with CoStar Group, Inc. (effective 2024-04-21).

Action: entry
Agreement: merger
Counterparty: CoStar Group, Inc.
Effective: 2024-04-21

Exact text from the filing

On April 21, 2024, Matterport, Inc., a Delaware corporation (the “Company” or “Matterport”), entered into an Agreement and Plan of Merger and Reorganization (the “Merger Agreement”) with CoStar Group, Inc.

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Source: SEC EDGAR

accession 0001104659-24-049761

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