ORBCOMM Announces Expiration of “Go-Shop” Period
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., May 10, 2021 (GLOBE NEWSWIRE) -- ORBCOMM Inc. (Nasdaq: ORBC), a global provider of Internet of Things (IoT) solutions, today announced the expiration of the 30-day “go-shop” period under the terms of the merger agreement between ORBCOMM and GI Partners, a leading US-based investor in data infrastructure businesses, which was previously announced on April 8, 2021. The “go-shop” period expired at 11:59 pm ET on May 7, 2021. No alternative acquisition proposals were received by ORBCOMM during the “go-shop” period. Pursuant to the merger agreement, during the “go-shop” period, ORBCOMM, with the assistance of PJT Partners and Raymond James, ORBCOMM’s financial advisors, actively solicited alternative acquisition proposals from third parties that they believed might be interested in a possible alternative transaction. During this process, ORBCOMM, PJT Partners and Raymond James engaged with more than 50 parties. ORBCOMM is now subject to customary “no-shop” restricti
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