[8-K] PROS Holdings, Inc. Reports Material Event
PROS Holdings, Inc. announced it has entered a definitive Agreement and Plan of Merger with Portofino Parent, LLC and Portofino Merger Sub, entities formed by investment funds affiliated with Thoma Bravo, L.P., under which the merger subsidiary will merge into PROS and PROS will become a wholly owned subsidiary of Parent. The agreement provides for the acquisition of all outstanding PROS common stock for $23.25 per share. The filing lists customary closing conditions including stockholder approval and required regulatory approvals and emphasizes multiple risks that could delay or prevent completion, trigger termination fees, or otherwise affect PROS’s business and operations. A press release is attached as Exhibit 99.1 and the filing is signed by PROS’s General Counsel and Secretary.
PROS Holdings, Inc. ha annunciato di aver stipulato un Accordo definitivo e un Piano di Fusione con Portofino Parent, LLC e Portofino Merger Sub, entità costituite da fondi di investimento affiliati a Thoma Bravo, L.P., in base al quale la consociata di fusione si fonderà su PROS e PROS diventerà una controllata interamente posseduta della capogruppo. L'accordo prevede l'acquisizione di tutte le azioni ordinarie PROS in circolazione per $23.25 per azione. La documentazione elenca condizioni di chiusura usuali tra cui l'approvazione degli azionisti e le necessarie autorizzazioni regolamentari e sottolinea diversi rischi che potrebbero ritardare o impedire il completamento, attivare penali per risoluzione o influire in altro modo sull'attività e sulle operazioni di PROS. Un comunicato stampa è allegato come Allegato 99.1 e la documentazione è firmata dal consigliere generale e dal segretario di PROS.
PROS Holdings, Inc. anunció que ha suscrito un Acuerdo definitivo y un Plan de Fusión con Portofino Parent, LLC y Portofino Merger Sub, entidades formadas por fondos de inversión afiliados a Thoma Bravo, L.P., mediante el cual la subsidiaria de la fusión se fusionará con PROS y PROS se convertirá en una subsidiaria 100% perteneciente a la casa matriz. El acuerdo prevé la adquisición de todas las acciones comunes en circulación de PROS por $23.25 por acción. La presentación indica condiciones de cierre habituales, incluida la aprobación de los accionistas y las aprobaciones regulatorias requeridas, y enfatiza múltiples riesgos que podrían retrasar o impedir la finalización, activar honorarios de terminación u otras afectaciones al negocio y las operaciones de PROS. Un comunicado de prensa está adjunto como el Anexo 99.1 y la presentación está firmada por el Consejero General y el Secretario de PROS.
PROS Holdings, Inc.는 Portofino Parent, LLC 및 Portofino Merger Sub와 함께 Thoma Bravo, L.P.에 계열된 투자 펀드가 설립한 법인들로 구성된 Definitive Agreement and Plan of Merger를 체결했다고 발표했습니다. 합병 자회가 PROS에 합병되고 PROS가 모회사인 Parent의 전액 출자 자회사가 됩니다. 계약은 모든 유통 중 PROS 보통주를 주당 $23.25에 인수하는 것을 제공합니다. 제출 문서는 주주 승인 및 필요한 규제 승인 등 관행적인 마감 조건을 목록화하고 완료를 지연시키거나 방해할 수 있는 다양한 위험, 해지 수수료를 촉발하거나 PROS의 비즈니스 및 운영에 영향을 줄 수 있는 위험을 강조합니다. 보도자료는 Exhibit 99.1로 첨부되어 있으며 제출문은 PROS의 총고문(GC) 및 비서가 서명했습니다.
PROS Holdings, Inc. a annoncé avoir conclu un accord définitif et un plan de fusion avec Portofino Parent, LLC et Portofino Merger Sub, des entités constituées par des fonds d’investissement affiliés à Thoma Bravo, L.P., en vertu duquel la filiale de fusion fusionnera dans PROS et PROS deviendra une filiale entièrement détenue par la société mère. L’accord prévoit l’acquisition de toutes les actions ordinaires en circulation de PROS au prix de $23.25 par action. Le dépôt indique des conditions de closing habituelles, notamment l’approbation des actionnaires et les autorisations réglementaires requises, et souligne plusieurs risques qui pourraient retarder ou empêcher l’achèvement, déclencher des frais de résiliation ou affecter autrement les activités et les opérations de PROS. Un communiqué de presse est joint en tant qu’Exhibit 99.1 et le dépôt est signé par le conseiller juridique général et le secrétaire de PROS.
PROS Holdings, Inc. gab bekannt, dass es eine endgültige Vereinbarung und einen Merger-Plan mit Portofino Parent, LLC und Portofino Merger Sub unterzeichnet hat, Einheiten, die von Investmentfonds gehalten werden, die mit Thoma Bravo, L.P. verbunden sind, woraus die Merger-Tochtergesellschaft in PROS fusionieren wird und PROS eine vollständig im Besitz der Muttergesellschaft befindliche Tochter wird. Die Vereinbarung sieht den Erwerb aller ausstehenden PROS-Stammaktien zum Preis von $23.25 pro Aktie vor. Die Unterlagen listen übliche Abschlussbedingungen einschließlich der Zustimmung der Aktionäre und erforderlicher behördlicher Genehmigungen auf und betonen mehrere Risiken, die den Abschluss verzögern oder verhindern, Kündigungsentschädigungen auslösen oder PROS’ Geschäft und Betrieb sonst beeinträchtigen könnten. Eine Pressemitteilung ist als Exhibit 99.1 beigefügt, und die Unterlagen sind von PROS’ General Counsel und Secretary unterzeichnet.
شركة PROS Holdings, Inc. أعلنت أنها أبرمت اتفاقية نهائية وخطة اندماج مع Portofino Parent, LLC وPortofino Merger Sub، وهي كيانات تشكلت من صناديق استثمارية مرتبطة بـ Thoma Bravo, L.P., وفقاً لها ستندمج شركة الابن المُندمجة في PROS وستصبح PROS شركة فرعية مملوكة بالكامل من قبل الوالد. تنص الاتفاقية على استحواذ جميع أسهم PROS العادية القائمة بمقدار $23.25 للسهم. يقدم الملف شروط إغلاق معتادة بما في ذلك موافقة المساهمين والاعتمادات التنظيمية المطلوبة، ويؤكد وجود مخاطر عدة قد تؤدي إلى تأخير أو عرقلة الإنجاز، تشغيل رسوم إنهاء، أو تؤثر بشكل سلبي على أعمال PROS وعملياتها. وُرِد بيان صحفي كمُلحق بالمعادلة Exhibit 99.1 والتوقيع على الملف من قبل المستشار العام والأمانة لدى PROS.
PROS Holdings, Inc. 宣布已与 Portofino Parent, LLC 与 Portofino Merger Sub 签订最终的并购协议与并购计划，这些实体由与 Thoma Bravo, L.P. 相关的投资基金设立，根据该协议，合并子公司将并入 PROS，PROS 将成为 Parent 全资拥有的子公司。协议规定以每股 $23.25 收购所有流通在外的 PROS 普通股。该备案文件列出包括股东批准和所需监管批准在内的惯常交割条件，并强调多项可能延迟或阻止完成、触发终止费用或以其他方式影响 PROS 的业务与运营的风险。新闻稿作为 Exhibit 99.1 附上，备案文件由 PROS 的总法律顾问和秘书签署。
- Definitive transaction announced: PROS entered a binding Merger Agreement with Portofino Parent and its Merger Sub.
- Fixed cash consideration: The deal price is explicitly stated as $23.25 per share.
- Strategic buyer identified: Parent and Merger Subsidiary were formed by investment funds affiliated with Thoma Bravo, L.P..
- Completion uncertainty: The Merger depends on stockholder approval and regulatory approvals and may not close timely or at all.
- Operational and execution risks: Announcement may disrupt operations, divert management attention, and impair relationships with customers and partners.
- Litigation and termination risk: The filing warns of potential legal proceedings and circumstances that could require the company to pay a termination fee.
- Potential unexpected costs: The company cites risks of unexpected charges or expenses arising from the proposed Merger.
Insights
TL;DR: A definitive buyout at $23.25 per share by Thoma Bravo affiliates is material and will take time to clear approvals.
The Merger Agreement constitutes a definitive, not exploratory, transaction and therefore is a material event for shareholders. Key near-term considerations are shareholder approval and regulatory clearances; both can延 affect timing and certainty of closing. The filing explicitly notes termination-fee risk and potential litigation, which are common in contested or large-scale acquisitions. The announced cash consideration establishes a clear valuation anchor for investors and counterparties pending closing.
TL;DR: The board has entered a definitive agreement; governance and disclosure issues during the pendency will be critical.
The disclosure highlights governance risks such as management distraction, retention of key personnel, and impacts on business relationships. Explicit enumeration of risk factors and reference to ongoing SEC filings signal the company is following disclosure protocols. Stockholder vote and any proxy-related litigation are possible governance events to monitor through subsequent filings.
PROS Holdings, Inc. ha annunciato di aver stipulato un Accordo definitivo e un Piano di Fusione con Portofino Parent, LLC e Portofino Merger Sub, entità costituite da fondi di investimento affiliati a Thoma Bravo, L.P., in base al quale la consociata di fusione si fonderà su PROS e PROS diventerà una controllata interamente posseduta della capogruppo. L'accordo prevede l'acquisizione di tutte le azioni ordinarie PROS in circolazione per $23.25 per azione. La documentazione elenca condizioni di chiusura usuali tra cui l'approvazione degli azionisti e le necessarie autorizzazioni regolamentari e sottolinea diversi rischi che potrebbero ritardare o impedire il completamento, attivare penali per risoluzione o influire in altro modo sull'attività e sulle operazioni di PROS. Un comunicato stampa è allegato come Allegato 99.1 e la documentazione è firmata dal consigliere generale e dal segretario di PROS.
PROS Holdings, Inc. anunció que ha suscrito un Acuerdo definitivo y un Plan de Fusión con Portofino Parent, LLC y Portofino Merger Sub, entidades formadas por fondos de inversión afiliados a Thoma Bravo, L.P., mediante el cual la subsidiaria de la fusión se fusionará con PROS y PROS se convertirá en una subsidiaria 100% perteneciente a la casa matriz. El acuerdo prevé la adquisición de todas las acciones comunes en circulación de PROS por $23.25 por acción. La presentación indica condiciones de cierre habituales, incluida la aprobación de los accionistas y las aprobaciones regulatorias requeridas, y enfatiza múltiples riesgos que podrían retrasar o impedir la finalización, activar honorarios de terminación u otras afectaciones al negocio y las operaciones de PROS. Un comunicado de prensa está adjunto como el Anexo 99.1 y la presentación está firmada por el Consejero General y el Secretario de PROS.
PROS Holdings, Inc.는 Portofino Parent, LLC 및 Portofino Merger Sub와 함께 Thoma Bravo, L.P.에 계열된 투자 펀드가 설립한 법인들로 구성된 Definitive Agreement and Plan of Merger를 체결했다고 발표했습니다. 합병 자회가 PROS에 합병되고 PROS가 모회사인 Parent의 전액 출자 자회사가 됩니다. 계약은 모든 유통 중 PROS 보통주를 주당 $23.25에 인수하는 것을 제공합니다. 제출 문서는 주주 승인 및 필요한 규제 승인 등 관행적인 마감 조건을 목록화하고 완료를 지연시키거나 방해할 수 있는 다양한 위험, 해지 수수료를 촉발하거나 PROS의 비즈니스 및 운영에 영향을 줄 수 있는 위험을 강조합니다. 보도자료는 Exhibit 99.1로 첨부되어 있으며 제출문은 PROS의 총고문(GC) 및 비서가 서명했습니다.
PROS Holdings, Inc. a annoncé avoir conclu un accord définitif et un plan de fusion avec Portofino Parent, LLC et Portofino Merger Sub, des entités constituées par des fonds d’investissement affiliés à Thoma Bravo, L.P., en vertu duquel la filiale de fusion fusionnera dans PROS et PROS deviendra une filiale entièrement détenue par la société mère. L’accord prévoit l’acquisition de toutes les actions ordinaires en circulation de PROS au prix de $23.25 par action. Le dépôt indique des conditions de closing habituelles, notamment l’approbation des actionnaires et les autorisations réglementaires requises, et souligne plusieurs risques qui pourraient retarder ou empêcher l’achèvement, déclencher des frais de résiliation ou affecter autrement les activités et les opérations de PROS. Un communiqué de presse est joint en tant qu’Exhibit 99.1 et le dépôt est signé par le conseiller juridique général et le secrétaire de PROS.
PROS Holdings, Inc. gab bekannt, dass es eine endgültige Vereinbarung und einen Merger-Plan mit Portofino Parent, LLC und Portofino Merger Sub unterzeichnet hat, Einheiten, die von Investmentfonds gehalten werden, die mit Thoma Bravo, L.P. verbunden sind, woraus die Merger-Tochtergesellschaft in PROS fusionieren wird und PROS eine vollständig im Besitz der Muttergesellschaft befindliche Tochter wird. Die Vereinbarung sieht den Erwerb aller ausstehenden PROS-Stammaktien zum Preis von $23.25 pro Aktie vor. Die Unterlagen listen übliche Abschlussbedingungen einschließlich der Zustimmung der Aktionäre und erforderlicher behördlicher Genehmigungen auf und betonen mehrere Risiken, die den Abschluss verzögern oder verhindern, Kündigungsentschädigungen auslösen oder PROS’ Geschäft und Betrieb sonst beeinträchtigen könnten. Eine Pressemitteilung ist als Exhibit 99.1 beigefügt, und die Unterlagen sind von PROS’ General Counsel und Secretary unterzeichnet.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported):
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| (Commission File Number) | (IRS Employer Identification No.) |
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
| Item 7.01. | Regulation FD Disclosure. |
Agreement and Plan of Merger
On September 22, 2025, PROS Holdings, Inc., a Delaware corporation (the “Company”) issued a press release announcing its entry into an Agreement and Plan of Merger (the “Merger Agreement”) with Portofino Parent, LLC, a Delaware limited liability company (“Parent”), and Portofino Merger Sub, Inc., a Delaware corporation and wholly owned direct subsidiary of Parent (“Merger Subsidiary”), pursuant to which Merger Subsidiary will merge with and into the Company (the “Merger”), with the Company surviving the Merger as a wholly owned direct subsidiary of Parent. Parent and Merger Subsidiary were formed by investment funds affiliated with Thoma Bravo, L.P. to acquire all of the Company’s outstanding shares of common stock for $23.25 per share. A copy of the press release is attached as Exhibit 99.1.
The information in this Item 7.01 of this Current Report on Form 8-K and Exhibit 99.1 shall not be deemed “filed” for purposes of Section 18 of the Exchange Act, nor shall this item and Exhibit 99.1 be incorporated by reference into the Company’s filings under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth in such future filing.
Forward-looking statements
This Current Report on Form 8-K contains not only historical information, but also forward-looking statements made pursuant to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements represent the Company’s expectations or beliefs concerning future events, including the timing of the proposed Merger and other information relating to the proposed Merger. Forward-looking statements include information concerning possible or assumed future results of operations of the Company, the expected completion and timing of the proposed Merger and other information relating to the proposed Merger. Without limiting the foregoing, the words “believes,” “anticipates,” “plans,” “expects,” “intends,” “forecasts,” “should,” “estimates,” “contemplate,” “future,” “goal,” “potential,” “predict,” “project,” “projection,” “may,” “will,” “could,” “should,” “would,” “assuming” and similar expressions are intended to identify forward-looking statements. However, the absence of these words does not mean that the statements are not forward-looking. Where, in any forward-looking statement, the Company expresses an expectation or belief as to future results, such expectation or belief is expressed in good faith and believed to be reasonable at the time such forward-looking statement is made. However, these statements are not guarantees of future performance and involve certain risks, uncertainties and other factors beyond the Company’s control. Therefore, actual outcomes and results may differ materially from what is expressed or forecast in the forward-looking statements. These following important factors and uncertainties, among others, could cause actual results to differ materially from those described in the forward-looking statements: (i) the risk that the Merger may not be completed in a timely manner or at all, which may adversely affect the Company’s business and the price of the Common Stock of the Company, (ii) the failure to satisfy the conditions to the consummation of the Merger, including the adoption of the Merger Agreement by the stockholders of the Company and the receipt of regulatory approvals from various governmental entities (including any conditions, limitations or restrictions placed on these approvals) and the risk that one or more governmental entities may deny approval, (iii) the occurrence of any event, change or other circumstance that could give rise to the termination of the Merger Agreement, (iv) the risk that the Merger Agreement may be terminated in circumstances that require the Company to pay a termination fee, (v) the effect of the announcement or pendency of the Merger on the Company’s business relationships, operating results and business generally, (vi) risks that the proposed Merger disrupts current plans and operations, (vii) risks related to diverting management’s attention from the Company’s ongoing business operations, (viii) the outcome of any legal proceedings that may be instituted against the Company related to the Merger Agreement or the Merger, (ix) the Company’s ability to retain, hire and integrate skilled personnel including the Company’s senior management team and maintain relationships with key business partners and customers, and others with whom it does business, in light of the proposed Merger, (x) unexpected costs, charges or expenses resulting from the proposed Merger, (xi) the impact of adverse general and industry-specific economic and market conditions, (xii) risks caused by delays in upturns or downturns being reflected in the Company’s financial position and results of operations, (xiii) risks that the benefits of the Merger are not realized when and as expected, (xiv) uncertainty as to timing of completion of the proposed Merger, and (xv) other factors described under the heading “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024, the Company’s subsequent Quarterly Reports on Form 10-Q, and in other reports and
filings with the SEC. Forward-looking statements speak only as of the date of this communication or the date of any document incorporated by reference in this document. The Company cautions you that the important factors referenced above may not contain all of the factors that are important to you. In addition, the Company cannot assure you that the Company will realize the results or developments expected or anticipated or, even if substantially realized, that they will result in the consequences or affect the Company or the Company’s operations in the way the Company expects. The forward-looking statements included in this Current Report on Form 8-K are made only as of the date hereof. Except as required by applicable law or regulation, the Company does not undertake to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Additional Information About the Acquisition and Where to Find It
This Current Report on Form 8-K is being made in respect of the proposed Merger involving the Company, with Portofino Parent, LLC, a Delaware limited liability company, and Portofino Merger Sub, Inc., a Delaware corporation and wholly owned direct subsidiary of Parent. The Company expects to seek, and intends to file with the SEC a proxy statement and other relevant documents in connection with a special meeting of the Company’s stockholders for purposes of obtaining, stockholder approval of the proposed Merger. The Company may also file other relevant documents with the SEC regarding the proposed Merger. This communication is not a substitute for the proxy statement or any other document that the Company may file with the SEC. The definitive proxy statement (when available) will be sent or given to the stockholders of the Company and will contain important information about the proposed Merger and related matters. INVESTORS AND STOCKHOLDERS OF THE COMPANY ARE URGED TO READ THE DEFINITIVE PROXY STATEMENT AND ANY OTHER RELEVANT DOCUMENTS THAT MAY BE FILED WITH THE SEC BY THE COMPANY, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS, CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE COMPANY AND THE PROPOSED MERGER. Investors will be able to obtain a free copy of the proxy statement and other documents containing important information about the Company and the proposed Merger, once such documents are filed by the Company with the SEC at the SEC’s website at www.sec.gov or from the Company at its website at https://ir.pros.com/.
Participants in the Solicitation
The Company, and certain of its directors and executive officers, may be deemed to be participants in the solicitation of proxies in connection with the proposed Merger. Information about the Company’s directors and executive officers is set forth in (i) the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2024, including under the headings “Item 10. Directors, Executive Officers and Corporate Governance”, “Item 11. Executive Compensation”, “Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters” and “Item 13. Certain Relationships and Related Transactions, and Director Independence”, which was filed with the SEC on February 12, 2025, (ii) the Company’s Definitive Proxy Statement for its 2025 annual meeting of stockholders, which was filed with the SEC on March 28, 2025, as supplemented on April 7, 2025, under the headings “Directors”, “Director Compensation”, “Executive Officers”, “Compensation Discussion and Analysis”, “Executive Compensation”, “Security Ownership”, and “Related Party Transactions”, (iii) to the extent holdings of Company securities by its directors or executive officers have changed since the amounts set forth in the Company’s proxy statement for its 2025 annual meeting of stockholders, such changes have been or will be reflected on Forms 3, 4 and 5, filed with the SEC, (iv) the Company’s Current Report on Form 8-K, which was filed on May 1, 2025, and (v) and in subsequently filed Current Reports on Form 8-K and Quarterly Reports on Form 10-Q. Other information regarding the participants in the solicitation and a description of their direct and indirect interests, by security holdings or otherwise, will be set forth in the Company’s definitive proxy statement and other relevant materials to be filed with the SEC regarding the proposed Merger when such materials become available. Investors should read the proxy statement carefully when it becomes available before making any voting or investment decisions. Copies of the documents filed with the SEC by the Company will be available free of charge through the website maintained by the SEC at sec.gov and the Company’s website at https://ir.pros.com/.
No Offer
No person has commenced soliciting proxies in connection with the proposed Merger referenced in this Current Report on Form 8-K, and this Current Report on Form 8-K is neither an offer to purchase nor a solicitation of an offer to sell securities.
| Item 9.01. | Financial Statements and Exhibits. |
(d) Exhibits
| Exhibit |
Description | |
| 99.1 | Press Release | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
| PROS HOLDINGS, INC. | ||||||
| Date: September 22, 2025 | By: | /s/ Damian W. Olthoff | ||||
| Name: | Damian W. Olthoff | |||||
| Title: | General Counsel and Secretary | |||||
FAQ
What is the announced acquisition price per share for PRO (PROS Holdings, Inc.)?
Who is acquiring PROS according to the filing?
What approvals are required to complete the merger?
Does the filing mention risks that could delay or prevent the merger?
Is there an attached press release or exhibit?
