ORBCOMM Announces Completion of Acquisition by GI Partners
ORBCOMM Inc. (ORBC)
Last orbcomm inc. earnings: 4/30 07:00 am
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US:NASDAQ Investor Relations:
investors.orbcomm.com/investor-overview
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Source: GlobeNewswire
ROCHELLE PARK, N.J., Sept. 01, 2021 (GLOBE NEWSWIRE) -- ORBCOMM Inc., a global provider of Internet of Things (IoT) solutions, today announced the completion of its acquisition by GI Partners, a leading US-based private investment management firm, in an all-cash transaction that values ORBCOMM at approximately $1.1 billion, including net debt. Under the terms of the transaction, which was announced on April 8, 2021, ORBCOMM stockholders will receive $11.50 in cash per outstanding share of common stock, representing a premium of approximately 52% to ORBCOMM’s closing share price on April 7th and a 50% premium over the 90-day volume-weighted average share price through that date. The transaction was approved by ORBCOMM stockholders on July 8, 2021. Effective today, ORBCOMM is a privately held company, and its common stock is no longer listed on the Nasdaq Stock Market. “ORBCOMM’s partnership with GI Partners represents an exciting new chapter for the Company’s continued leadersh
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