09:55 AM EDT, 06/23/2025 (MT Newswires) -- Couchbase's ( BASE ) definitive agreement to be acquired by Haveli Investments for around $1.5 billion in cash has a "reasonable" valuation, RBC Capital Markets said in a Friday note.

The acquisition price of around $24.50 per share represents a 29% premium to the June 18 stock price and a 67% premium to the March 24 stock price, which was prior to the initial investment by Haveli in the software provider, RBC analysts said. The transaction has been approved by the board and is expected to close in H2, subject to normal closing conditions, they said.

The analysts said they do not expect another bidder to surface during the three-day go-shop period, which expires Monday, as they had previously viewed private equity as the "most likely" outcome in a take-out scenario.

RBC downgraded the stock's rating to sector perform from outperform and increased the price target to $24.50 from $22.

Price: 24.56, Change: +0.07, Percent Change: +0.29