InsideArbitrage Event Driven Monitor – May 17, 2024

Merger Arbitrage

1. SBOW: The acquisition of SilverBow Resources (SBOW) by Crescent Energy Company (CRGY), for a closing value of $2.1 billion. Under the terms of the agreement, SilverBow shareholders will receive 3.125 shares of Crescent common stock for each share of SilverBow common stock, with the option to elect to receive all or a portion of the proceeds in cash at a value of $38 per share, subject to possible pro ration with a maximum total cash consideration for the transaction of $400 million.
2. AGFY: Agrify Corporation (AGFY) and Nature’s Miracle Holding (NMHI) signed a definitive agreement and plan of merger following the previously announced term sheet for the merger. The transaction is expected to close in the second half of 2024.
3. ADTH: On May 16, 2024, AdTheorent (ADTH) announced that the third party, which had previously proposed to acquire the company for $3.35 per share, has withdrawn its offer and will not make another proposal.

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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