RTTNews | Jul 16, 2020 09:26AM EDT

09:25 Thursday, July 16, 2020 (RTTNews.com) - Shares of InnerWorkings Inc. (INWK) are rallying over 122% in pre-market today, after the company announced a definitive agreement with HH Global Group Ltd. to combine operations.

As per the deal, HH Global would acquire InnerWorkings for $3.00 per share in an all-cash transaction representing about $177 million in equity value, representing a premium of 127% to the closing price, and a premium of 104% to the 90-day volume weighted average price as of July 15, 2020.

The stock has been trading in the range of $0.87 - $5.81 for the past one year, and closed Wednesday's trade at $1.32, up 7 cents or 5.60%. INWK is currently trading at $2.94, up $1.62 or 122.73% in the pre-market session.

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