Plantro With Premium All-Cash Tender Offer to Buy Up to 15% of Class A Limited Voting Shares of Information Services Corp-February 2024-www.financetom.com

Plantro With Premium All-Cash Tender Offer to Buy Up to 15% of Class A Limited Voting Shares of Information Services Corp

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Plantro With Premium All-Cash Tender Offer to Buy Up to 15% of Class A Limited Voting Shares of Information Services Corp

Apr 2, 2025 4:53 AM

07:35 AM EDT, 04/02/2025 (MT Newswires) -- Privately-held company, Plantro, announced Wednesday an offer to acquire up to 2,777,342 Class A Limited Voting Shares in the capital of Information Services Corporation ( IRMTF ) at a price of $27.25 per Class A Share, payable in cash.

ISC closed yesterday up $0.975 or 3.9% at $25.715.

A statement noted the tender price represents an attractive premium of approximately 10% to the closing price of the Class A Shares on March 31, 2025, and an approximately 9% premium to the volume-weighted average price of the Class A Shares for the 10 trading days preceding the announcement of the tender offer. The total value of the tender offer, if fully taken up, is approximately $75.7 million.

Among highlights cited, the statement said Plantro's tender offer provides shareholders with "an opportunity to receive cash consideration in a stock that has been highly illiquid for many years".

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