Sunday, August 1, 2021

Proofpoint Inc. (PFPT) stock is rising but why?

Proofpoint, Inc. (NASDAQ: PFPT) a leading cybersecurity company aimed to protect workers and data from advanced cybersecurity criminals, confirmed that it has entered into an agreement for its acquisition by Thomas Bravo, a private equity firm specializing in the software and technology services segment. Under the terms of the agreement, Proofpoint will be valued at approximately $12.3B.  PFPT stock soared adjacent to the news.


3 Tiny Stocks Primed to Explode The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.

We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.

Click here for full details and to join for free

Sponsored


Proofpoint Inc. (PFPT) shares were rising 31.20% to trade at $172.89 in the current market at the last check. The stock of PFPT completed the previous trading session at $131.78. . Shares of the company were fluctuating between $130.99 and $132.45.In the past 12 months, the company’s stock has advanced 10.96%, and in the last week, the stock has moved down to -3.43%.

About the acquisition


A Backdoor Way To Profit From Today’s Crypto Bull Market

Even if you’re not actively in crypto, you deserve to know what’s actually going on...

Because while leading assets such as Bitcoin (BTC) and Ethereum (ETH) are climbing in value, a select group of public “crypto stocks” are surging right along with them. More importantly, these stocks are outpacing the returns these leading crypto assets aren already producing.

Click here to get the full story… along with our long list of backdoor Bitcoin strategies. It’s free. .

Sponsored


In accordance to the acquisition conditions, PFPT shareholders will receive $176.00 per share. The cash-only payment will depict a premium of approximately 34 percent over Proofpoint’s closing share price on April 23, 2021, the last day of full trading before the acquisition announcement. As the transaction is closed, Proofpoint will become a private company and continue to provide cybersecurity solutions to organizations globally.

Proofpoint will benefit from the enhanced operating capabilities, additional capital support and deep sector expertise of Thoma Bravo. Board of directors and executives of Proofpoint have unanimously approved the agreement with Thoma Bravo and recommend shareholders of the company to vote in favor of the transaction. A Special Meeting of Shareholders to be called in connection with the transaction, where shareholders will vote in regards to the acquisition.

The transaction is predicted to be completed in 3Q 2021, subject to customary closing conditions such as approval by PFPT shareholders and approval by the relevant regulatory authority. After the transaction is closed, Proofpoint’s common stock will not be listed on any public market.

The definitive agreement also includes a 45-day time period expiring on June 9, 2021, which authorizes the Board and its advisors to consider several alternative acquisition proposals from third parties. This will give the board the right to end the merger agreement to enter into a more lucrative proposal. However, there is no assurance that the extended time line will result in a superior proposal. Furthermore, Proofpoint does not intend to disclose developments unless it determines such disclosure is appropriate and an absolute necessity to provide adequate information.

Conclusion

Acquisition by Thomas Bravo will provide benefit to PFPT’s operating capabilities and provide them with capital and strategic support. Furthermore, deep sector expertise from the private equity firm will provide ease in PFPT expansion which has peaked investor interest with Proofpoint shares rising immensely at last check.

Latest news

KLA Corporation (KLAC) announces new shipments of innovative device

Electronic manufacturing equipment manufacturer KLA Corporation (NASDAQ: KLAC) announced new shipments of its innovative device. It changes one of the major technological processes, and...

Novanta Inc. (NOVT) Acquires Schneider Electric Motion USA (SEM) For $115M Cash

Novanta Inc. (NASDAQ: NOVT) has acquired Schneider Electric Motion USA (SEM), a company that could contribute to its industrial automation development. Novanta Inc. (NOVT) purchased...

What Helped MannKind Corporation (MNKD) Stock Jump 11.6 Percent?

During the trading session on 28 June,2021 MannKind Corporation (NASDAQ: MNKD) advanced 11.60 percent to $5.31.This hike occurred as a result of recent efforts...

Identifying Value and Future Vision in Chewy Inc. (CHWY) Stock

Chewy Inc. (NYSE: CHWY), an online pet product retailer, recently introduced a new service, Connect With a Vet, featuring remote consultations with veterinarians. The...

Related news

KLA Corporation (KLAC) announces new shipments of innovative device

Electronic manufacturing equipment manufacturer KLA Corporation (NASDAQ: KLAC) announced new shipments of its innovative device. It changes one of the major technological processes, and...

Novanta Inc. (NOVT) Acquires Schneider Electric Motion USA (SEM) For $115M Cash

Novanta Inc. (NASDAQ: NOVT) has acquired Schneider Electric Motion USA (SEM), a company that could contribute to its industrial automation development. Novanta Inc. (NOVT) purchased...

What Helped MannKind Corporation (MNKD) Stock Jump 11.6 Percent?

During the trading session on 28 June,2021 MannKind Corporation (NASDAQ: MNKD) advanced 11.60 percent to $5.31.This hike occurred as a result of recent efforts...

Identifying Value and Future Vision in Chewy Inc. (CHWY) Stock

Chewy Inc. (NYSE: CHWY), an online pet product retailer, recently introduced a new service, Connect With a Vet, featuring remote consultations with veterinarians. The...

LEAVE A REPLY

Please enter your comment!
Please enter your name here

1745

SPECIAL GIFT

WE HAVE A GIFT FOR YOU

Download Free eBook For

7 GROWTH STOCKS FOR 2021

100% free. stop anytime no spam