03:57 AM EDT, 07/03/2024 (MT Newswires) -- ARC Document Solutions ( ARC ) said late Tuesday it has received a non-binding "go-private" proposal from its chairman and chief executive, Kumarakulasingam Suriyakumar, at a purchase price of $3.25 per share in cash.

The company has formed a special committee to evaluate the proposal filed by the investor group, it said.

The investor group, which consists of Suriyakumar and other officers of the company, currently owns about 20% of the company's outstanding equity.