Doma jumps after $88 mln go-private deal with Title Resources Group

Doma Holdings

01/04/2024 14:20

** Shares of real estate technology company Doma Holdings
 DOMA.N  jump 35% to $6.13 premarket
    ** After market close on Thursday, DOMA said title insurance
underwriter Title Resources Group (TRG) will take it private in
a $87.7 mln all-cash deal
    ** DOMA shareholders will receive $6.29 per share at a
premium of 38.5% to Thursday's last close
    ** After deal close, Doma's underwriting division and its
technology division will operate as subsidiaries of TRG
    ** Asset manager Hudson Structured Capital will maintain
investment in Doma through the technology division
    ** Deal expected to close in the second half of 2024
    ** TRG has agreed to a 50-day "go-shop" period that allows
Doma to consider superior offers from third parties
    ** As of last close, DOMA shares down 1.9% YTD

 (Reporting by Arasu Kannagi Basil in Bengaluru)
 ((ArasuKannagi.Basil@thomsonreuters.com;))