PAR Tech acquires Stuzo for ~$190M, agrees to buy TASK Group for ~$206M; raises $200M in private placement

On March 8, 2024 (the “ Signing/Closing Date ”), PAR Technology Corporation, a Delaware corporation (“ PAR ”), and ParTech, Inc., a New York corporation (the “ ParTech ”) and a wholly owned subsidiary of PAR, entered into a Purchase Agreement (the “ Purchase Agreement ”) with the persons identified as Company Sellers on the signature pages thereto, Longshore Capital Fund I, L.P., a Delaware limited partnership (collectively, the “ Stuzo Sellers ”), and Longshore Capital Management, LLC, a Delaware limited liability company, in its capacity as the Seller Representative.

On March 8, 2024 (Eastern Standard Time) / March 9, 2024 (Sydney Time), PAR and TASK Group Holdings Limited, an Australian public company limited by shares and listed on the Australian Securities Exchange (“TASK”), entered into a Scheme Implementation Agreement (the “ SIA ”), pursuant to which, subject to the satisfaction or waiver of the conditions set forth therein, PAR or its nominee (“ PAR Acquiror ”) will acquire all TASK ordinary shares (the “ TASK Shares ”) pursuant to a court-approved scheme of arrangement under Part 5.1 of Australia’s Corporations Act 2001 (Cth) (“ Corporations Act ”) (the “ TASK Scheme ” and such acquisition, the “ TASK Transaction ”).