Advent International Offers $1.02/Share to Take Definitive Healthcare Private
DH sits 72% above its 52-week low of $0.61.
Summary
Advent International, which already owns 58.54% of Definitive Healthcare, has proposed to acquire all remaining shares for $1.02 per share in cash, taking the company private. The offer follows a Nasdaq delisting notice and a Q2 revenue decline of 9% to $55.2M. Shares jumped 14% to $1.03 in premarket trading, reflecting the premium to the prior close. A special committee of independent directors has been formed to evaluate the proposal. The company will not provide further updates on the process.
At the time of this announcement, DH was trading at $1.05 on NASDAQ in the Technology sector, with a market capitalization of approximately $130.7M. The 52-week trading range was $0.61 to $4.35. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.