Stamps.com to be bought out at a 67% premium by Thoma Bravo

2 months ago 13

Stamps.com Inc. STMP, +0.36% announced Friday an statement to beryllium acquired by bundle concern steadfast Thoma Bravo successful a currency woody that values the web-based mailing and shipping services institution astatine $6.6 billion. Stamps' banal soared 35.6% successful premarket trading, anterior to a trading halt for news. Under presumption of the deal, which is expected to adjacent successful the 3rd 4th of 2021, Stamps shareholders volition person $330 successful currency for each Stamps stock they own, representing a 67% premium to Thursday's closing terms of $197.72, and 6.7% supra the Aug. 7, 2020 grounds adjacent of $309.36. The woody includes a 40-day "go-shop" play successful which Stamps tin solicit alternate merger deals. "With the fiscal and operational enactment of Thoma Bravo, Stamps.com tin proceed to innovate and prosecute maturation opportunities to seizure the expanding e-commerce shipping marketplace and widen our presumption arsenic the starring planetary multi-carrier e-commerce shipping bundle company," said Stamps Chief Executive Ken McBride. The banal has edged up 0.8% twelvemonth to day done Thursday and has mislaid 5.6% implicit the past 12 months, portion the S&P 500 SPX, -0.86% has gained 15.0% this twelvemonth and rallied 37.1% implicit the past year.

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