Identiv to be Acquired by American Securities for $1 Billion

TL;DR

Identiv going private! American Securities buying for $1B ($20.10/share). Deal closes Q4.

AI Summary

Identiv, Inc. announced on August 19, 2024, that it has entered into a definitive agreement to be acquired by an affiliate of American Securities LLC. The transaction is valued at approximately $1.0 billion, with Identiv stockholders expected to receive $20.10 per share in cash. The deal is anticipated to close in the fourth quarter of 2024, subject to customary closing conditions.

Why It Matters

This acquisition by a private equity firm signifies a major shift for Identiv, potentially leading to changes in its strategic direction and operational focus as it transitions from a public to a private entity.

Risk Assessment

Risk Level: medium — The deal is subject to customary closing conditions and regulatory approvals, which could delay or prevent its completion.

Key Numbers

• $1.0B — Transaction Value (Total amount American Securities is paying for Identiv.)
• $20.10 — Price Per Share (Cash amount Identiv shareholders will receive for each share.)

Key Players & Entities

• Identiv, Inc. (company) — Company being acquired
• American Securities LLC (company) — Acquiring entity
• $1.0 billion (dollar_amount) — Total transaction value
• $20.10 (dollar_amount) — Price per share
• August 19, 2024 (date) — Date of agreement announcement
• fourth quarter of 2024 (date) — Anticipated closing period

FAQ

Key Financial Figures

• $0.001 — nge on which registered Common Stock, $0.001 par value per share INVE The Nasdaq
• $145.0 m — ity Business") to Buyer in exchange for $145.0 million, subject to customary adjustments

Filing Documents

• d889728d8k.htm (8-K) — 26KB
• 0001193125-24-202812.txt ( ) — 146KB
• inve-20240819.xsd (EX-101.SCH) — 3KB
• inve-20240819_lab.xml (EX-101.LAB) — 18KB
• inve-20240819_pre.xml (EX-101.PRE) — 11KB
• d889728d8k_htm.xml (XML) — 4KB

Forward-Looking Statements

Forward-Looking Statements This Current Report on Form 8-K contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are those involving future events and future results that are based on current expectations as well as the current beliefs and assumptions of management of Identiv and can be identified by words such as "anticipate," "believe," "continue," "plan," "will," "intend," "expect," "outlook," and similar references to the future. Any statement that is not a historical fact, including statements regarding: the expected timing of the closing of the transaction; the expected amount of proceeds from the transaction; and the terms and conditions related to the transaction, including closing conditions. Forward-looking statements are only predictions and are subject to a number of risks and uncertainties, many of which are outside Identiv's control, which could cause actual results to differ materially and adversely from those expressed in any forward-looking statements. Factors that could cause actual results to differ materially from those in the forward-looking statements include, but are not limited to: the risk that the other conditions to the closing of the transaction are not satisfied; the occurrence of any event, change or other circumstances that could give rise to the termination of the Purchase Agreement; the failure of the proposed transaction to close for any reason; potential litigation relating to the transaction and the effects of any outcome related thereto; any purchase price adjustments to the amount of proceeds from the transaction; delays in the closing of the proposed transaction; and the other factors discussed in its periodic reports, including its Annual Report on Form 10-K for the year ended December 31, 2023, Quarterly Report on Form 10-Q for the quarter ended June 30, 2024 and subsequent reports filed with the Securities and Exchange Commission. All forw

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View this 8-K filing on SEC EDGAR