Why Everbridge Stock Is Moving Higher Monday
Portfolio Pulse from Adam Eckert
Everbridge Inc (NASDAQ:EVBG) shares surged after announcing an acquisition agreement with Thoma Bravo, valuing the company at approximately $1.5 billion. Shareholders will receive $28.60 per share in cash, and Everbridge will become privately held post-transaction. The deal, expected to close in Q2 2024, includes a 25-day 'go-shop' period allowing Everbridge to consider alternative proposals.
February 05, 2024 | 2:25 pm
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Everbridge Inc's stock surged following the announcement of its acquisition by Thoma Bravo for approximately $1.5 billion, with shareholders receiving $28.60 per share.
The acquisition announcement typically leads to a positive short-term impact on the stock price of the company being acquired due to the premium paid over the current stock price, as evidenced by the 18.2% surge in EVBG shares. The deal's completion will make Everbridge a privately held company, which is significant news for shareholders and could lead to increased trading volume and interest in the stock in the short term.
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