Everbridge (EVBG) has released an update to notify the public and investors about an entry into a material definitive agreement.
Everbridge, Inc. has agreed to a merger with Project Emerson Parent, LLC, and Project Emerson Merger Sub, Inc., both affiliates of Thoma Bravo Discover Fund IV, L.P. The board has approved the merger, deeming it beneficial for Everbridge and its shareholders, and recommends stockholders vote in favor. The agreement stipulates that each Everbridge common stock will be converted into a $28.60 cash entitlement. The deal includes provisions for vested and unvested stock options and restricted stock units, with varying cash entitlements based on vesting terms. The merger is contingent on stockholder approval, regulatory clearances, and no legal impediments, with a provision for Everbridge to solicit alternative proposals during a “Go-Shop Period.” If certain termination conditions are met, Everbridge may owe a termination fee up to $40.4 million.
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For a comprehensive understanding of the announcement, you can read the full document here.
