03:00 PM EDT, 10/21/2024 (MT Newswires) -- GSE Systems ( GVP ) said Monday a Pelican Energy Partners affiliate has agreed to increase the merger price to acquire GSE shares for $4.60 per share from the previously agreed $4.10.

As of Oct. 18, GSE Systems ( GVP ) had secured proxies representing 49.9% of its outstanding shares in favor to be acquired by Pelican and is urging the remaining shareholders to vote for the merger, the company said.

The new merger price represents a 29% premium over the 30-day average price as of Aug. 7, it added.

GSE Systems ( GVP ) said it has rescheduled the special meeting of the company's stockholders to Oct. 29.

The company's shares were up over 6% in recent trading.

Price: 4.62, Change: +0.28, Percent Change: +6.45