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