Verra Mobility to Acquire CPI, LLC

TL;DR

VERRA MOBILITY buying CPI, LLC in Q1 2025 - expect EPS boost!

AI Summary

Verra Mobility Corporation announced on December 4, 2024, that it has entered into a definitive agreement to acquire all of the outstanding equity interests in CPI, LLC. The transaction is expected to close in the first quarter of 2025, subject to customary closing conditions. This acquisition is anticipated to be immediately accretive to Verra Mobility's adjusted diluted earnings per share.

Why It Matters

This acquisition is expected to enhance Verra Mobility's service offerings and financial performance, potentially leading to increased shareholder value.

Risk Assessment

Risk Level: medium — Acquisitions carry inherent risks, including integration challenges, potential overpayment, and failure to achieve expected synergies.

Key Numbers

• Q1 2025 — Expected Closing Quarter (Acquisition timeline)

Key Players & Entities

• Verra Mobility Corporation (company) — Registrant
• CPI, LLC (company) — Acquisition Target
• December 4, 2024 (date) — Agreement Date
• first quarter of 2025 (date) — Expected Closing Date

FAQ

Key Financial Figures

• $0.0001 — ered) Class A common stock, par value $0.0001 per share VRRM Nasdaq Capital Marke
• $100 million — d the repurchase of up to an additional $100 million of its outstanding shares of Class A co
• $12.7 million — horization, together with the remaining $12.7 million available at December 4, 2024 under the
• $112.7 million — provides the Company with approximately $112.7 million available for repurchases. Under the re

Filing Documents

• vrrm-20241204.htm (8-K) — 43KB
• 0000950170-24-134345.txt ( ) — 182KB
• vrrm-20241204.xsd (EX-101.SCH) — 48KB
• vrrm-20241204_htm.xml (XML) — 4KB

01 Other Events

Item 8.01 Other Events. On December 4, 2024, the Board of Directors of Verra Mobility Corporation (the " Company ") authorized the repurchase of up to an additional $100 million of its outstanding shares of Class A common stock, par value $0.0001 per share (the " Common Stock "), under its existing stock repurchase program authorized in October 2023. This additional authorization, together with the remaining $12.7 million available at December 4, 2024 under the initial authorization, provides the Company with approximately $112.7 million available for repurchases. Under the repurchase program, the Company may purchase shares from time to time until April 30, 2025 through open market purchases, in privately negotiated transactions or by other means, including through trading plans intended to qualify under Rule 10b5-1 of the Securities Exchange Act of 1934, as amended, and accelerated share repurchase agreements, each as permitted under applicable rules and regulations. The amount and timing of repurchases will be determined at the Company's discretion and will depend on a variety of factors, including price, general business and market conditions, applicable legal requirements, and alternative investment opportunities. The repurchase program does not obligate the Company to acquire any particular amount of Common Stock, or at any specific time intervals and may be modified, suspended or terminated at any time at the Company's discretion.

Forward-Looking Statements

Forward-Looking Statements This Current Report on Form 8-K (this " Report ") contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the " Securities Act "), and Section 21E of the Securities Exchange Act of 1934, as amended (the " Exchange Act "). All statements contained in this Report other than statements of historical fact, including statements regarding expectations concerning the stock repurchase program are forward-looking statements. The words "believe," "may," "will," "estimate," "continue," "anticipate," "intend," "expect," "could," "would," "project," "plan," "potentially," "preliminary," "likely" and similar expressions, and the negative of these expressions, are intended to identify forward-looking statements. The future events discussed in this Report may not occur and actual results could differ materially and adversely from those anticipated or implied in the forward-looking statements. Factors that could cause actual results to differ include the risks and uncertainties described in Part I, Item 1A. "Risk Factors" of our Annual Report on Form 10-K for the year ended December 31, 2023, as updated by the Company's subsequent filings with the SEC. You should not rely on forward-looking statements as predictions of future events. We operate in a very competitive and rapidly changing environment and new risks emerge from time to time. The forward-looking statements in this Report represent our views as of the date hereof. Except as may be required by law, we undertake no obligation to update any of these forward-looking statements for any reason or to conform these statements to actual results or revised expectations. 2 SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Dated: December 9, 2024 Verra Mobility Corporation By: /s/ C

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View this 8-K filing on SEC EDGAR