Sydney, 17 September 2024 | Bigtincan Holdings Limited (ASX: BTH) (“Bigtincan” or the “Company”), a leading provider of platform for AI-powered sales enablement automation services, has received a revised non-binding proposal (the “Proposal”) from Vector Capital Management, L.P. (“Vector” or “Vector Capital”) for a potential take-private transaction. The proposal includes an offer price of A$0.20 per share, reflecting an increase from previous communications.
Proposal Details & Process:
Having recently engaged with several shareholders and the Company, Vector Capital has secured investment committee approval and the necessary financing commitments to proceed with a potential transaction.
The proposal outlines Vector’s intent to pursue the deal without any financing contingency, making the offer subject only to legal due diligence and the completion of binding long-form documentation required.
Vector made a statement in the Proposal, stating: “Having reviewed the publicly available FY2024 year-end financial results and now having identified lenders willing and able to provide Vector with the necessary debt financing, Vector has received investment committee approval to, and would be prepared to, consummate a take-private transaction for BTH at an increased price of A$0.20 per share. Our offer is unconditional, does not have a financing contingency and is subject only to legal due diligence and entering into binding long form documents.”
Next Steps:
The Company’s Board of Directors will evaluate the proposal in consultation with external advisors to assess all parameters before engaging further with Vector Capital and the potential transaction.
Bigtincan advises shareholders that no immediate action is required currently for this matter. The Company and Board reiterate that there is no certainty that a transaction will proceed.
For more information, please contact:
Jane Morgan
Jane Morgan Management
Investor & Media Relations
jm@janemorganmanagement.com.au
About us:
About Bigtincan Holdings Limited:
Bigtincan Holdings Limited is an Australia-based software company. The Company provides an artificial intelligence (AI)-powered sales enablement automation platform. The Company’s principal activity is the provision of an integrated, online platform, Bigtincan Hub, a collaborative and secure solution that automatically delivers the relevant content to the right users directly, across any device and any network. It provides software as a service (SaaS) application platform, creating a comprehensive solution that offers customers tools for sales content management (Bigtincan Content Hub), sales readiness (Learning Hub) and sales engagement (Engagement Hub), which is engaged in working together to create its Intelligent Enablement Platform (IEP). The Company operates globally with users in over 50 countries and with a solution localized into approximately 40 languages. Its products are used by various companies across the world, with over 2000 deployments and more than one million users.
Contact details:
Jane Morgan
Jane Morgan Management
Investor & Media Relations
jm@janemorganmanagement.com.au
