Bigtincan hits over 3-month high on getting buyout bid from PE firm

Bigtincan Holdings

02/12/2022 24:01

** Shares of Bigtincan Holdings Ltd  BTH.AX  rise as much as
14.7% to A$0.780, their highest since Aug. 18
    ** AI-powered software firm says it received an unsolicited,
indicative, conditional and non-binding buyout proposal from
private equity adviser SQN investors Lp  urn:newsml:reuters.com:*:nASX6GHsVQ
    ** Says SQN proposes to acquire co for A$0.80 cash per
share, which is at a 7.6% premium to co's last closing price on
Thursday
    ** Says SQN has indicated it aims to fund indicative
proposal by a combination of equity by SQN and its affiliates,
and possibly debt financing
    ** Co notes that it has had preliminary discussions with
other interested parties on a potential control transaction
    ** BTH adds its independent board committee will consider
proposals in best interests of all its shareholders
    ** Stock posts its biggest intraday pct gain since Oct. 31
    ** More than 660,184 shares change hands, vs the 30-day
average volume of 577,573 shares
    ** Stock down 33% this year, as of last close
 (Reporting by Poonam Behura in Bengaluru)
 ((Poonam.Behura@thomsonreuters.com;))