Everbridge enters amended merger pact with Thoma Bravo

Everbridge and Thoma Bravo announced that they have amended and restated the previously announced merger agreement, dated February 4, 2024. Under the terms of the amended and restated agreement, Thoma Bravo has increased the price at which it has agreed to acquire all outstanding shares of Everbridge to $35.00 per share in cash, or $6.40 per share higher the original transaction price. The per share purchase price consideration values Everbridge at approximately $1.8B and represents an approximately 62% premium to the Everbridge 90-day volume-weighted average share price as of February 2, 2024, the last trading day prior to the announcement of the original merger agreement. “We’re pleased to have negotiated an even higher price for our shareholders,” said David Henshall, Chairman and Lead Independent Director of the Everbridge Board of Directors. “The interest we received as part of the go-shop process is a testament to the exceptional company we’ve built, the significant value of our products for organizations all over the world, and Everbridge’s long-term growth potential.” The transaction, which was approved by the Everbridge Board of Directors, is expected to close in the second calendar quarter of 2024, subject to customary closing conditions, including approval by Everbridge shareholders and the receipt of required regulatory approvals. The transaction is not subject to a financing condition. Upon completion of the transaction, Everbridge common stock will no longer be listed on any public stock exchange. The Company will continue to operate under the Everbridge name and brand.