Certara jumps after private firm raises stake in co

Certara

07/11/2022 16:15

**  Shares of biosimulation software provider Certara Inc
 CERT.O  up 20.8% at $12.86 
    ** Stock trading at its highest in nearly a month
    ** Private firm Arsenal Capital Partners, which owns around
4% of CERT, will invest a fresh $449 mln in co acquiring around
30 mln additional shares from funds controlled by EQT Private
Equity at $15 a share
    ** EQT held close to 19% of CERT's outstanding shares as of
Aug. 16 - IBES Refinitiv data
    ** Post completion, Arsenal Capital Partners will own around
22% of co's outstanding shares 
    ** In a separate agreement, Arsenal agreed to a 2-year
lock-up prohibiting any sale of the newly purchased shares
without co's approval
    ** Eight of nine brokerages rate the stock as "buy" or
higher, remaining one going for "hold"; their median PT is
$22.50 - Refinitiv data
    ** Stock has fallen 54.6% YTD compared with 33.1% decline in
the Nasdaq Composite Index  .IXIC 
 (Reporting by Shashwat Chauhan in Bengaluru)
 ((Shashwat.Chauhan@thomsonreuters.com))