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GTY Technology Shares Soars On Takeover At 123% Premium

Benzinga · 04/29/2022 09:49
  • GTY Technology Holdings Inc (NASDAQ:GTYHagreed to be acquired by GI Partners, a leading private investment firm. 
  • GTY shareholders will receive $6.30 in cash for each share of GTY. 
  • The purchase price represents a 123% premium over the GTY closing share price on April 28, the last full trading day before the transaction announcement.
  • The leading provider of cloud software solutions will become a privately held company.
  • The transaction will likely close in the third quarter of 2022.
  • GTY CEO TJ Parass said, "This transaction will provide immediate and substantial value to GTY shareholders. The Company will have greater flexibility to focus on executing our strategy, and we are excited to begin our long-term partnership with GI Partners."
  • Price Action: GTYH shares traded higher by 118.70% at $6.19 on the last check Friday.