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Everbridge to be Acquired by Thoma Bravo

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By Chris Wack

Everbridge, a leading company in critical event management, saw its shares surge 18% to $28.11 following the announcement of its acquisition by Thoma Bravo. In an all-cash transaction, Thoma Bravo will acquire Everbridge for a total value of $1.5 billion.

Despite a 16% decline in the stock price over the past year, Everbridge hit its 52-week high of $35.55 in February last year.

Upon completion of the transaction, Everbridge will transition from a publicly traded company to a privately held one.

Under the terms of the agreement, Everbridge shareholders will receive $28.60 per share in cash, which represents a generous 32% premium to the volume-weighted average share price over the last 90 days.

The transaction is expected to be finalized during the second calendar quarter of 2024.

While the acquisition is in progress, there is a 25-day “go-shop” period until February 29, which allows the Everbridge board and its advisors to actively seek alternative acquisition proposals from specific third parties. In the event of a superior offer that aligns with the terms and conditions of the merger agreement, the board has the option to terminate the current agreement.

David Henshall, Chairman and Lead Independent Director of the Everbridge board of directors, expressed his satisfaction with the deal, stating, “We are pleased to deliver immediate, compelling, and certain value to our shareholders through this transaction.”

Once the deal is finalized, Everbridge common stock will no longer be listed on any public stock exchange. However, the company will retain its name and continue its operations under the Everbridge brand.

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