Why Information Technology Model N Stock Is Rising Today – Model N (NYSE:MODN)

Model N, Inc. MODERN shares are trading higher after the company announced Vista Equity Partners will acquire it for 1.25 billion dollars.

Under the terms, Vista will acquire all outstanding shares of Model N for $30 per share, representing a premium of about 23% over Model N’s 30-day trading volume-weighted average share price at closing. on January 10, 2024. The day before, the Board of Directors of Model N authorized its financial advisor to contact potential acquirers.

The purchase price also represents a premium of approximately 16% over Model N’s 30-trading-day volume-weighted average share price as of the April 5, 2024 close.

The transaction is expected to close in mid-2024, subject to customary closing conditions.

After the deal, Model N will become a private company and will no longer be listed on any public market.

Jason Blessing, President and CEO of Model N, said: “As a privately held company owned by Vista, we will have the additional resources to navigate this dynamic market and drive long-term ARR growth. Vista understands our strengths, culture and customer-centric philosophy as we position our company to capture market opportunities and accelerate our global impact.”

Nick Prikel, senior vice president of Vista, said: “Model N enables leading life sciences and advanced technology companies to optimize their commercialization and fulfillment processes with mission-critical products designed specifically to address the complexities of these dynamic markets.”

Investors can gain exposure to stocks through SPDR S&P Software and Services ETF XSW and ETF First Trust Multi-Manager Small Cap Opportunities MMSC.

price action: MODN shares rose 10.13% to $29.83 at last check on Monday.

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