Definitive Healthcare surges on Advent International buyout offer

M&A · PartnershipManagement
โดย Seeking Alpha·US·Read original
Summary · why it matters

Definitive Healthcare shares rose 14% in premarket trading after private equity firm Advent International made a non-binding offer to acquire the company for $1.02 per share in an all-share deal. Advent, which already owns 62.5 million Class A shares representing nearly a 59% stake, values the SaaS provider at a 36% premium to its 60-day volume-weighted average price of $0.75 per share as of August 31. The transaction, not subject to financing conditions, will see founder and executive chairman Jason Krantz roll his equity into the new entity. Concurrently, Definitive Healthcare announced Clay Ritchey, former CEO of Verato, will become its next chief executive and board member effective September 8, succeeding Kevin Coop, who departed on August 31 after more than two years.

Impact on stocks 1

Cloud & Digital Infrastructure▲ · 1 stocks
Definitive Healthcare Corp
DH
▲ PositiveCapitalrelevance

Advent International made a non-binding all-share buyout offer at $1.02 per share, a 36% premium to the 60-day VWAP.

Off-coverage companies 2

Advent InternationalPrivate± Mixed
Capitalrelevance

Advent International is the acquirer making the non-binding offer for Definitive Healthcare, but the article does not assess the deal's impact on Advent itself.

VeratoPrivate± Mixed
relevance

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