Bumble Inc. has announced a share and unit repurchase agreement in which it will repurchase equity interests from selling shareholders and unitholders. The purchase price for the equity interests is set at $11.0968 per equity interest, totaling $50.0 million.
The closing of the repurchase transaction is scheduled for March 7, 2024, and all the sellers are required to deliver their equity interests to Bumble Inc. on this date. Bumble Inc. will pay the selling shareholders and unitholders in cash via wire transfer of immediately available funds.
The agreement includes representations and warranties from both the sellers and Bumble Inc. to ensure the validity and enforceability of the transaction. Additionally, it outlines conditions for closing, including the accuracy of representations and warranties from both parties.
The agreement may be terminated if the closing does not occur on or before 11:59 PM Eastern time on March 15, 2024, or by mutual consent of the parties.
This agreement represents the entire understanding between the parties and will be binding upon the successors and assigns of each party.
Bumble Inc. and the sellers have agreed to communicate using written notices, with specific addresses and contacts provided for each party.
This announcement marks a significant financial move for Bumble Inc., as it seeks to repurchase equity interests from selling shareholders and unitholders at a set price. The closing date of March 7, 2024, is a key milestone to watch for investors and stakeholders.
As a result of these announcements, the company's shares have moved -1.4% on the market, and are now trading at a price of $11.28. If you want to know more, read the company's complete 8-K report here.
