TechTarget, Inc. has provided an update on Toro CombineCo., Inc.'s proforma revenue and adjusted EBITDA for the year 2024. The company now anticipates a proforma revenue range of $490 million to $500 million, compared to the previous guidance of $500 million. Additionally, the presentation of historical proforma adjusted EBITDA was removed in the finalization of the registration statement on Form S-4. As a result, the adjusted EBITDA and adjusted EBITDA margin guidance for 2024 has been retracted.
TechTarget, Inc. and Toro CombineCo., Inc. expect to report the full-year 2024 results in March 2025, at which point they may or may not include adjusted EBITDA and adjusted EBITDA margin guidance. This information was made available as part of the proposed transaction, with the registration statement being declared effective by the Securities and Exchange Commission (SEC) on October 25, 2024.
It's important to note that this communication is not a solicitation or offer to sell securities, nor does it constitute a solicitation of any vote or approval. Any offer of securities shall be made through a prospectus meeting the requirements of the Securities Act of 1933, as amended. The market has reacted to these announcements by moving the company's shares -1.0% to a price of $29.01. For more information, read the company's full 8-K submission here.
