- Points.com Inc (NASDAQ:PCOM) (TSX:PTS) entered into an arrangement agreement with Plusgrade Parent L.P. to be acquired for $25 per common share in cash (equivalent to C$32.21).
- The transaction values Points at ~$385 million on an equity value basis. The consideration represents a 45% premium to Points' closing price on the TSX on May 6, 2022, and a 52% premium to the 20–day volume-weighted average per common share on the TSX.
- Plusgrade will fund the transaction with a combination of equity from Novacap and CDPQ and debt from recognized financial institutions.
- The agreement also provides for payment by Plusgrade of a reverse termination fee to Points, if the agreement is terminated.
- Price Action: PCOM shares are trading higher by 42.81% at $24.52 on NASDAQ, and PTS shares are higher by 42.59% at C$31.74 on TSX, last check Monday.
