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iClick Interactive Asia Group Ltd (NASDAQ:ICLK) shares are trading higher by over 24% after the company penned a merger deal with TSH Investment Holding and TSH Merger Sub Limited.
The merger transaction was valued at $4.08 in cash per ADS without interest.
The consideration represents a premium of around 3.3% to the closing price of the Company's ADSs on December 19, 2022, the last trading day prior to the company's announcement of its receipt of the preliminary non-binding going-private proposal, and a premium of approximately 20% to the volume-weighted average closing price of the Company's ADSs during the last 90 trading days before December 19, 2022.
The deal is expected to close in Q1 2024, subject to customary closing conditions.
Post-deal closure, ICLK will become a privately held company, and its ADSs will no longer be listed on the Nasdaq Global Market.
Price Action: ICLK shares are up 24% at $3.72 on the last check Friday.
Posted In: ICLK
