K1 confirms non-binding proposal made to board of MariaDB plc

K1 Investment Management confirms that it made, on February 15, a non-binding proposal to the board of directors of MariaDB to acquire, together with K1’s investment affiliates, all of the issued, and to be issued, share capital of MariaDB at a value of 55c per share. K1 sayst the terms of the Possible Offer represent a 189% premium to MariaDB’s closing share price on February 5, the last full trading day prior to the announcement by MariaDB of a potential forbearance agreement with RP Ventures LLC and Hale Capital Partners; and a 114% premium to MariaDB’s average closing share price of the last 30 calendar days. “K1 has a high regard for the MariaDB business and looks forward to engaging with MariaDB in connection with the Possible Offer. It is intended that the proposed transaction would be effected by way of an Irish law scheme of arrangement whereby K1, or its affiliates, would acquire 100% of the issued shares of the Company. However, K1 reserves the right to implement the proposal, instead, by way of contractual offer. The form and/or mix of the offer consideration has not yet been determined. There can be no certainty that any offer will be made, nor as to the terms on which any such offer might be made,” the firm stated.