Louis Navellier is rating this stock an “A” – Get In Now!

On May 24, the man who found “the stock of the century” will reveal one of his top stocks for 2022 – for FREE – in a special presentation.

Tue, May 24 at 4:00PM ET

STMP Stock: 13 Things to Know About the ‘Go Private’ Deal That Has Stamps.com Skyrocketing Today

Stamps.com (NASDAQ:STMP) stock is taking off on Friday following news that the company is going private in a deal with Thoma Bravo.

the stamps.com (STMP) logo on a sign outside of a corporate building

Source: Michael Vi / Shutterstock.com

Here’s everything investors need to know about the deal pushing STMP stock higher today.

  • Stamps.com has entered into a definitive agreement with Thoma Bravo that will have the company acquiring it.
  • The deal between the two companies values Stamps.com at $6.6 billion.
  • This will have Thoma Bravo paying out $330 per share in cash for STMP stock.
  • That’s a 67% premium over the stock’s closing price on Thursday.
  • It’s also 71% higher than the company’s three-month volume-weighted average closing share price as of Thursday.
  • Thoma Bravo notes that once the deal is complete, Stamps.com will become a private company.
  • The Board of Directors at STMP has unanimously agreed to support the deal with Thoma Bravo and is advising shareholders to do the same.
  • A Special Meeting of Stockholders will be held so that holders of STMP stock can vote on the matter.
  • The deal will also need to complete other customary closing conditions, such as getting regulatory approval.
  • So long as Stamps.com and Thoma Bravo don’t run into any hiccups, the deal is set to close in the third quarter of 2021.
  • STMP stock is seeing incredibly heavy trading today following the acquisition news.
  • As of this writing, more than 2 million shares of the stock have changed hands.
  • For comparison, the company’s daily average trading volume is closer to 200,000 shares.

STMP stock was up 63.7% as of Friday morning.

There’s loads of other news for investors to check out today.

Fortunately for them, InvestorPlace has it covered with our daily deep dives into the stock market. The latest news today includes what to expect from the market today, details for the Moving iMage (NYSEAMERICAN:MITQ) IPO, as well as a battery-swapping announcement from Nio (NYSE:NIO). You can check out all of that news and more by following the links below!

More Friday Stock Market News

Article printed from InvestorPlace Media, https://investorplace.com/2021/07/stmp-stock-13-things-to-know-about-the-go-private-deal-that-has-stamps-com-skyrocketing-today/.

©2022 InvestorPlace Media, LLC