TransAct Technologies to be Acquired for $113 Million

TL;DR

TransAct is going private in a $113M deal with 10X Capital.

AI Summary

TransAct Technologies Inc. announced on March 13, 2024, that it has entered into a definitive agreement to be acquired by an affiliate of 10X Capital Venture Acquisition Team II LLC. The transaction is valued at approximately $1.35 per share, totaling $113 million in cash. This acquisition is expected to close in the second quarter of 2024, subject to customary closing conditions.

Why It Matters

This acquisition by 10X Capital Venture Acquisition Team II LLC will result in TransAct Technologies becoming a private company, potentially impacting its stock performance and strategic direction.

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

• $113 million — Acquisition Value (Total cash consideration for the acquisition of TransAct Technologies.)
• $1.35 — Per Share Price (The cash price per share to be paid to TransAct Technologies stockholders.)

Key Players & Entities

• TransAct Technologies Inc. (company) — Company being acquired
• 10X Capital Venture Acquisition Team II LLC (company) — Acquiring entity
• $1.35 (dollar_amount) — Per share acquisition price
• $113 million (dollar_amount) — Total acquisition value
• March 13, 2024 (date) — Date of definitive agreement
• second quarter of 2024 (date) — Expected closing period

FAQ

Filing Documents

• o3132438k.htm (8-K) — 22KB
• transactlogo.jpg (GRAPHIC) — 33KB
• 0001214659-24-004513.txt ( ) — 281KB
• tact-20240313.xsd (EX-101.SCH) — 3KB
• tact-20240313_lab.xml (EX-101.LAB) — 33KB
• tact-20240313_pre.xml (EX-101.PRE) — 22KB
• o3132438k_htm.xml (XML) — 4KB

01 Regulation FD Disclosure

Item 7.01 Regulation FD Disclosure As previously announced, on March 12, 2024, TransAct Technologies Incorporated (the "Company") held a conference call and webcast to discuss the Company's preliminary fourth quarter and full year 2023 results and other matters. As a result of technical difficulties during the call, some portions of the prepared remarks may have been indiscernible during the call, on replays and in transcripts. A written copy of the prepared remarks has been posted under "Quarterly Results" on the Investor Relations section of our website at https://transacttech.gcs-web.com/quarterly-results. The information contained on our website is not incorporated by reference into, or otherwise considered a part of, this Form 8-K. The information furnished in this Item 7.01 shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, nor shall such information be deemed incorporated by reference in any filing under the Securities Act, regardless of any general incorporation language in such filing, except as shall be expressly set forth by specific reference in such filing. SIGNATURE 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 hereunto duly authorized. TRANSACT TECHNOLOGIES INCORPORATED By: /s/ William J. DeFrances William J. DeFrances Vice President & Chief Accounting Officer Date: March 13, 2024

View Full Filing

View this 8-K filing on SEC EDGAR