IBM to acquire HashiCorp for $35/share in cash; enterprise value $6.4B

HashiCorp, Inc.

Per share price $35 in cash; enterprise value $6.4 billion.
Transaction expected to close by end of 2024, subject to regulatory and stockholder approvals.
Stockholders representing ~43% voting power entered voting agreement to approve merger.
Termination fee of $264.2 million payable by HashiCorp under certain circumstances.
Board unanimously approved and recommends stockholder adoption.

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

HashiCorp, Inc. entered into Agreement and Plan of Merger with International Business Machines Corporation and McCloud Merger Sub, Inc. valued at $35.00 (effective 2024-04-24).

Action: entry
Agreement: merger
Counterparty: International Business Machines Corporation and McCloud Merger Sub, Inc.
Value: $35.00
Effective: 2024-04-24

Exact text from the filing

On April 24, 2024, HashiCorp, Inc. ("HashiCorp") entered into an Agreement and Plan of Merger (the "Merger Agreement") with International Business Machines Corporation ("IBM") and McCloud Merger Sub, Inc., a wholly owned subsidiary of IBM ("Merger Sub").

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Source: SEC EDGAR

accession 0001193125-24-114310

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