InsideArbitrage Event Driven Monitor – September 25, 2025

Merger Arbitrage

1. IAS: The acquisition of Integral Ad Science Holding Corp. (IAS) by Novacap for a closing value of $1.9 billion. Novacap will acquire all of the outstanding shares of Integral Ad Science for $10.3 per share in cash, representing a premium of 21.75% from the stock’s last close. (Press Release)
2. BRY: California Resources (CRC) announced that it intends to offer and sell $400 million in aggregate principal amount of senior unsecured notes due 2034. The company intends to use the net proceeds from this offering, together with cash on hand and borrowings under its revolving credit facility, to repay the existing indebtedness of Berry (BRY).
3. TASK: TaskUs (TASK) announced that its special meeting of stockholders has been adjourned again to October 8, 2025.

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