Everbridge raises Thoma Bravo buyout price to $35.00/share, 62% premium

EVERBRIDGE, INC.

Thoma Bravo increased offer to $35.00 per share, up $6.40 from original $28.60.
Transaction values Everbridge at ~$1.8B, 62% premium to 90-day VWAP before original deal.
Go-shop process attracted higher competing bid; board approved amended agreement.
Closing expected Q2 2024, subject to shareholder vote and regulatory approvals.
Equity commitment from Thoma Bravo covers full merger consideration; no financing condition.

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

EVERBRIDGE, INC. entered into Amended and Restated Agreement and Plan of Merger with Project Emerson Parent, LLC and Project Emerson Merger Sub, Inc. valued at $35.00 per share in cash (effective 2024-02-29).

Action: entry
Agreement: merger
Counterparty: Project Emerson Parent, LLC and Project Emerson Merger Sub, Inc.
Value: $35.00 per share in cash
Effective: 2024-02-29

Exact text from the filing

On February 29, 2024, Everbridge, Inc. (“ Everbridge ”) entered into an Amended and Restated Agreement and Plan of Merger (“ A&R Merger Agreement ”), by and among Everbridge, Project Emerson Parent, LLC (“ Parent ”) and Project Emerson Merger Sub, Inc. (“ Merger Sub ”), which amends and restates the previously announced Agreement and Plan of Merger, dated as of February 4, 2024 (the “ Original Merger Agreement ”), by and among Everbridge, Parent and Merger Sub.

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Source: SEC EDGAR

accession 0001193125-24-054346

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