Why Critical Event Management Company Everbridge Shares Are Rocketing Premarket Friday
Portfolio Pulse from Lekha Gupta
Everbridge, Inc. (NASDAQ:EVBG) shares surged premarket after Thoma Bravo increased its acquisition offer to $35.00 per share, valuing Everbridge at approximately $1.8 billion. This revised offer represents a 62% premium over its 90-day volume-weighted average share price as of February 2, 2024. The transaction is expected to close in Q2 2024, making Everbridge a privately held company. This follows Everbridge's Q4 2023 earnings, where it reported an adjusted EPS of $0.47 and sales of $115.76 million.
March 01, 2024 | 2:18 pm
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Everbridge's stock price surged premarket following the announcement of Thoma Bravo increasing its acquisition offer to $35.00 per share, a significant premium over the previous offer and the company's recent trading prices.
The substantial increase in the acquisition offer by Thoma Bravo directly impacts Everbridge's stock price by offering a significant premium over its recent trading prices and the original offer. This news is likely to be viewed positively by investors, leading to a short-term increase in stock price.
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