InsideArbitrage Event Driven Monitor – December 18, 2025

Merger Arbitrage

1. UDMY: The acquisition of Udemy, Inc. (UDMY) by Coursera, Inc. (COUR) for a closing value of $678.16 million. Udemy stockholders will receive 0.8 shares of Coursera common stock for each share of Udemy common stock. The deal implies a value of $6.35 per Udemy share, representing a premium of 18.29% from the stock’s last close. (Press Release)
2. UBFO: The acquisition of United Security Bancshares (UBFO) by Community West Bancshares (CWBC) for a closing value of $191.9 million. United Security Bancshares shareholders will be entitled to receive 0.4520 shares of Community West Bancshares common stock for each share of United common stock. The transaction is valued at $10.88 per United Security Bancshares common share, representing a premium of 4.62% from the stock’s last close. (Press Release)
3. ISPO: The acquisition of Inspirato Incorporated (ISPO) by Exclusive Investments, LLC for a closing value of $268.66 million. Exclusive Investments will acquire all outstanding shares of Inspirato for $4.27 per share in an all-cash transaction, representing a premium of 50.35% from the stock’s last close (Press Release)

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