InsideArbitrage Event Driven Monitor – March 8, 2024
Merger Arbitrage
- SDPI: The acquisition of Superior Drilling Products, Inc. (SDPI) by Drilling Tools International Corp. (DTI) for $32.3 million in a cash plus stock deal. Under the terms of the agreement, each common share of Superior Drilling Products will be exchanged for 0.313 shares of Chord common stock and $1.00 per share in cash.
- ASTR: The acquisition of Astra Space (ASTR) by Chris Kemp, Astra’s Co-founder, CEO and Chairman, and Dr. Adam London, Astra’s Co-founder, CTO and Director for $15.11 million or $0.50 per share in cash.
- CPRI: Tapestry (TPR) filed with the European antitrust regulator for its planned acquisition of Capri Holdings (CPRI). The European Commission has set a provisional deadline for April 15, 2024.
You can check out new deals, all deal updates, and spreads on active deals in our Merger Arbitrage Tool for premium members here.
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