Buyer Group Led by Evercel Completes Acquisition of ZAGG
ZAGG Inc has completed its sale to a buyer group led by Evercel, Inc., previously announced on December 11, 2020.
Sentiment and the balance of points
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Rhea-AI Summary
ZAGG Inc has completed its sale to a buyer group led by Evercel, Inc., previously announced on December 11, 2020. Stockholders will receive $4.20 per share in cash, plus a potential additional payment of up to $0.30 per share. Following this transaction, ZAGG's common stock will no longer trade on the Nasdaq Global Select exchange. ZAGG is a leader in mobile lifestyle accessories, while Evercel takes a hands-on approach to managing acquired businesses.
Positive
- Stockholders receive $4.20 per share in cash.
- Potential additional payment up to $0.30 per share.
Negative
- ZAGG's common stock will cease to trade on Nasdaq, limiting shareholder liquidity.
Details
News Market Reaction – ZAGG
The recorded move for ZAGG in the trading session of this news was +0.70%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
SALT LAKE CITY, Feb. 22, 2021 (GLOBE NEWSWIRE) -- ZAGG Inc (Nasdaq: ZAGG) (“we,” “us,” “our,” “ZAGG,” or the “Company”), a leading global mobile lifestyle company, today announced the completion of its sale to a buyer group led by Evercel, Inc. (“Evercel”).
The transaction was previously announced on December 11, 2020 and received approval from ZAGG’s stockholders on February 18, 2021. As a result of the completion of the transaction, ZAGG’s stockholders will receive
About ZAGG Inc
ZAGG Inc (NASDAQ: ZAGG) is a global leader in accessories and technologies that empower mobile lifestyles. The Company has an award-winning product portfolio that includes screen protection, mobile keyboards, power management solutions, social tech, and personal audio sold under the ZAGG®, mophie®, InvisibleShield®, IFROGZ®, Gear4®, and HALO® brands. ZAGG has operations in the United States, Ireland, and China. ZAGG products are available worldwide, and can be found at leading retailers including Best Buy, Verizon, AT&T, Sprint, T-Mobile, Walmart, Target, and Amazon.com. For more information, please visit the Company's website at www.ZAGG.com and follow us on Facebook, Twitter, and Instagram.
About Evercel, Inc.
Evercel, Inc. (OTCMKTS: EVRC) is a holding company that brings an entrepreneurial approach to acquiring and managing business through a hands-on, data-driven approach to partnering with strong management teams for long term results.
CONTACT:
Investor Relations:
ICR Inc.
Brendon Frey
203-682-8216
brendon.frey@icrinc.com
Company:
ZAGG Inc
Jeff DuBois
801-506-7336
jeff.dubois@ZAGG.com
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