Why Internet Company Bsquare's Shares Are Rising Thursday
Portfolio Pulse from Nabaparna Bhattacharya
Internet company Bsquare Corporation (NASDAQ:BSQR) announced that it will be acquired by IoT technology firm Kontron America for $1.90 per share, a 62% premium to the trailing 52-week volume-weighted average. The all-cash deal represents an implied equity value of approximately $38 million. Post-acquisition, Bsquare will become a privately held company and its shares will no longer be listed on any public market. The transaction is expected to close later in 2023.
October 12, 2023 | 10:56 am
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Bsquare Corporation is to be acquired by Kontron America for $1.90 per share, a 62% premium to the trailing 52-week volume-weighted average. The stock will no longer be publicly traded post-acquisition.
The acquisition news has led to a surge in Bsquare's stock price, as the offer price represents a significant premium to the company's recent trading prices. However, post-acquisition, the stock will no longer be publicly traded, which means shareholders will need to decide whether to sell their shares now or wait for the acquisition to complete.
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