ZeroFox To Be Acquired By Haveli Investments For $350M; ZeroFox Stockholders Will Receive $1.14 Per Share In Cash Upon Completion Of The Transaction
Portfolio Pulse from Benzinga Newsdesk
ZeroFox Holdings, Inc. (ZFOX), a leading external cybersecurity provider, has announced a definitive agreement to be acquired by Haveli Investments for $350M, or $1.14 per share in cash. This deal represents a 45% premium over the 90-day volume weighted average share price. Upon completion, expected in the first half of 2024, ZeroFox will become a privately held company. The transaction has been unanimously approved by ZeroFox's Board of Directors and is subject to stockholder and regulatory approvals.
February 06, 2024 | 1:47 pm
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ZeroFox Holdings, Inc. (ZFOX) is set to be acquired by Haveli Investments for $350M, translating to $1.14 per share in cash, a 45% premium over its recent average share price. The company will transition to a private entity post-acquisition.
The acquisition of ZeroFox by Haveli Investments at a significant premium is likely to have a positive short-term impact on ZFOX's stock price, as the deal valuation exceeds recent trading levels. The transition to a private company post-acquisition means this could be one of the last opportunities for public investors to benefit from ZeroFox's growth trajectory. The unanimous board approval and the lack of a financing condition for the deal further increase the likelihood of the transaction's completion, providing a clear positive signal to the market.
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