ChannelAdvisor jumps on deal to go private
06/09/2022 14:20
** Shares of e-commerce software maker ChannelAdvisor
ECOM.N up 55.1% at $22.80 premarket
** Software as a service provider CommerceHub to buy
outstanding shares of co for $23.10 per share in cash
urn:newsml:reuters.com:*:nPn6Z3vrsa
** Upon closing of deal, co will become a privately held
company and shares of ECOM common stock will no longer be listed
on any public market
** Proposed transaction is not subject to a financing
condition and is expected to close in 2022
** Co and CommerceHub will operate independently until the
proposed transaction is finalized
** Financing for the transaction is being provided by Sixth
Street and Golub Capital LLC
** As of last close, ECOM shares down ~40.4% YTD
(Reporting by Aatrayee Chatterjee in Bengaluru)
((Aatrayee.Chatterjee@thomsonreuters.com;))