- The stock price of iClick Interactive Asia Group Limited (NASDAQ: ICLK) increased by over 6% during intraday trading. This is why it happened.
The stock price of iClick Interactive Asia Group Limited (NASDAQ: ICLK) – a leading enterprise and marketing cloud platform in China that empowers worldwide brands with full-stack consumer lifecycle solutions – increased over 6% during intraday trading. Investors are responding to iClick Interactive Asia Group announcing today that its board of directors received a preliminary non-binding indicative proposal dated September 23, 2021 from PAG Pegasus Fund LP and/or its designated affiliates and Oasis Management Company Ltd and/or its designated affiliates to acquire all of the outstanding shares of the company (other than those shares held by the members of management and other strategic shareholders of the company that may be rolled over in connection with the proposed transaction) for US$6.75 per ADS in cash, subject to certain terms and conditions set forth in the Proposal Letter.
According to the Proposal Letter, the Proposing Buyers plan to fund the consideration payable in the Proposed Transaction with equity financing to be provided by investment funds managed or controlled by the Proposing Buyers and/or affiliated with PAG (under which PAG Pegasus is founded) and Oasis and debt financing.
The Board is planning to evaluate the Proposed Transaction. And the board cautions the company’s shareholders and others considering trading the company’s securities that the Board has just received the Proposal Letter and has not had an opportunity to carefully review or evaluate the proposal, or make any decision with respect to the company’s response to the proposal.
There can be no assurance that any definitive offer will be made or that any definitive agreement will be executed relating to the Proposed Transaction. And iClick Interactive does not undertake any obligation to provide any updates with respect to the Proposed Transaction or any other transaction, except as required under applicable law.
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