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InsideArbitrage Potential Deal Alert: Creative Realities (CREX) Confirms Unsolicited Proposal from Pegasus Capital

  • February 13, 2023

POTENTIAL DEAL DETAILS

Stock Creative Realities, Inc. Symbol CREX
Date Announced 02/07/2023 Source Press Release
Type Unsolicited Bid Acquiring Company/Person Pegasus Capital Advisors, L.P.

Creative Realities (CREX), a leading provider of digital signage solutions, confirmed that the company’s Board of Directors received an unsolicited proposal from Pegasus Capital Advisors to acquire all of the outstanding shares of Common Stock for a purchase price of $0.83 per share in cash.

Update(s):

May 1, 2023: Creative Realities (CREX) received a revised proposal from Pegasus Capital Advisors, L.P. to acquire all of the outstanding shares of common stock of the company that are not owned by Pegasus for a purchase price of $2.85 per share in cash.

The Revised Proposal followed an earlier proposal from Pegasus to acquire all of the outstanding shares of common stock of the Company that are not owned by Pegasus for a purchase price of $2.49 per share in cash (adjusted for the company’s 1-for-3 reverse stock split) effected March 27, 2023.

The Original Proposal was rejected by a special committee of the company’s non-executive, independent directors.

May 19, 2023:  The Special Committee has concluded that the Revised Proposal undervalues the company based on the company’s existing business and current and future prospects, and is not in the best interests of the existing shareholders.

 

 

Disclaimer: Our intent with this section of the website is to present potential deals that appear to be in the pipeline. These potential deals are ones where i) the company has indicated that it is "seeking strategic alternatives", ii) there has been an unsolicited bid for a company as mentioned in a press release by the company or iii) news about the deal has been published by a leading news organization like The Wall Street Journal, The New York Times, Bloomberg, Financial Times, The Washington Post, Reuters and The Associated Press. As best as possible we will try to avoid baseless rumors. There is a high probability that many of these potential deals may not materialize and if they do, the terms of the deal may be different from what was initially reported. Please do your own due diligence before buying or selling any securities mentioned on this website. We do not warrant the completeness or accuracy of the content or data provided.