RTTNews | Jul 9, 2021 08:05AM EDT

08:04 Friday, July 9, 2021 (RTTNews.com) - Shares of internet-based postage solutions provider Stamps.com (STMP) are surging more than 65% in pre-market on Friday after the company announced its decision to go private by software investment firm Thoma Bravo aquiring it in an all-cash transaction valued about $6.6 billion.

As per the deal, the company's stockholders will get $330, a premium of 67 percent over the company's closing share price as on July 8, 2021 and 71 percent premium over the three-month volume-weighted average closing share price through July 8, 2021.

"The e-commerce landscape is rapidly evolving and we look forward to partnering with the Stamps.com team to continue building on the Company's leading position in e-commerce shipping solutions," said Brian Jaffee, a Principal at Thoma Bravo.

The agreement includes a "go-shop" period of 40 days, which expires on August 18, 2021. The transaction is expected to close in the third quarter of 2021.

STMP closed Thursday's trade at $197.72, up 0.36%. The stock is currently at $328.60.

Read the original article on RTTNews ( https://www.rttnews.com/3208069/stamps-com-soars-65-in-pre-market-on-deciding-to-go-private.aspx)

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