[8-K] VERINT SYSTEMS INC Reports Material Event
Rhea-AI Filing Summary
Verint Systems Inc. has been acquired by Calabrio, Inc., with Verint becoming a wholly owned subsidiary through a completed merger on November 26, 2025. Each share of Verint common stock outstanding immediately before the effective time was converted into the right to receive $20.50 in cash, and preferred shares were redeemed for $1,000 in cash plus accrued dividends per share. Verint’s common stock has been delisted from Nasdaq, and the company plans to terminate its SEC reporting obligations. Outstanding equity awards and phantom shares were either cashed out at $20.50 per underlying share or converted into cash-based awards that continue to vest over time. Verint’s 0.25% Convertible Senior Notes due April 15, 2026 may now be converted into cash based on $20.50 per share or repurchased at par plus accrued interest under Fundamental Change rights. The aggregate purchase price for all outstanding common shares was approximately $1.24 billion, funded by third-party debt financing arranged by Banco Santander SA.
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Insights
Verint is taken private in a $1.24 billion all-cash acquisition at $20.50 per share.
The completed acquisition by Calabrio, Inc. turns Verint into a wholly owned subsidiary and ends its public listing. Common shareholders receive $20.50 in cash per share, and the aggregate purchase price for outstanding common stock is approximately $1.24 billion, indicating a full exit for public investors. Series A and Series B preferred stockholders are redeemed for $1,000 per share plus unpaid accrued dividends.
Capital structure is simplified: Verint’s credit agreement has been fully repaid and terminated, and related liens and guarantees are released. Capped call transactions tied to the 0.25% Convertible Senior Notes due April 15, 2026 are terminated in exchange for cash payments from counterparties. For the convertible notes, the merger constitutes a Fundamental Change and Make-Whole Fundamental Change, giving holders the option to convert into cash based on $20.50 per underlying share or require repurchase at principal plus accrued interest to, but excluding, December 26, 2025, the Fundamental Change Repurchase Date.
Governance and reporting shift from public to private ownership. Verint’s common stock ceased trading on Nasdaq as of November 26, 2025, with a Form 25 delisting and a planned Form 15 to terminate reporting under the Exchange Act. The board has been replaced by directors from the buyer’s merger subsidiary, and Verint’s charter and by-laws have been amended and restated. Deloitte & Touche LLP has resigned as auditor due to independence rules, and BDO USA, P.C. is expected to be appointed to audit Verint for the fiscal year ending January 31, 2026, subject to completion of standard client evaluation.