Bowman to Acquire Exeltech; Financed With Combination Of Cash, Seller Term Notes And Convertible Note With Conversion Strike Priced At $32.32/Share; Anticipates Net Service Billing Run Rate Of ~$7M And Be Immediately Accretive.
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Bowman Consulting Group Ltd. (BWMN) is set to acquire Exeltech, with the transaction financed through cash, seller term notes, and a convertible note priced at $32.32 per share. The acquisition is expected to result in a net service billing run rate of approximately $7 million and be immediately accretive.
October 31, 2024 | 8:42 pm
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Bowman Consulting Group Ltd. is acquiring Exeltech, with the deal financed through a mix of cash, seller term notes, and a convertible note at $32.32/share. The acquisition is expected to enhance Bowman's net service billing by $7 million and be immediately accretive.
The acquisition of Exeltech by Bowman Consulting Group is expected to be immediately accretive, indicating a positive impact on earnings. The use of a convertible note priced at $32.32/share suggests confidence in future stock performance. The anticipated increase in net service billing run rate by $7 million further supports a positive outlook.
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