DMC Global Acknowledges Non-Binding Proposal from Steel Connect
DMC Global (Nasdaq: BOOM) has received a non-binding acquisition proposal from Steel Connect to purchase all outstanding shares not already owned by Steel Connect for $10.18 per share in cash. The company's board of directors will evaluate the proposal with legal and financial advisors in accordance with fiduciary duties.
The proposal is subject to further due diligence by Steel Connect, and there is no guarantee of a definitive agreement or transaction completion. Stockholders are advised that no immediate action is required. BofA Securities is serving as financial advisor, while Womble Bond Dickinson and Richards, Layton & Finger are acting as legal advisors. Additionally, Sodali & Co. and Gagnier Communications are serving as strategic stockholder and communications advisors, respectively.
DMC Global (Nasdaq: BOOM) ha ricevuto una proposta di acquisizione non vincolante da Steel Connect per acquistare tutte le azioni in circolazione non già possedute da Steel Connect al prezzo di $10,18 per azione in contante. Il consiglio di amministrazione dell'azienda valuterà la proposta con l'aiuto di consulenti legali e finanziari, in conformità con i doveri fiduciari.
La proposta è soggetta a ulteriori verifiche da parte di Steel Connect e non c'è alcuna garanzia di un accordo definitivo o di completamento della transazione. Si consiglia agli azionisti che non è richiesta alcuna azione immediata. BofA Securities funge da consulente finanziario, mentre Womble Bond Dickinson e Richards, Layton & Finger agiscono come consulenti legali. Inoltre, Sodali & Co. e Gagnier Communications svolgono il ruolo di consulenti strategici per gli azionisti e di comunicazione, rispettivamente.
DMC Global (Nasdaq: BOOM) ha recibido una propuesta de adquisición no vinculante de Steel Connect para comprar todas las acciones en circulación que no están ya en manos de Steel Connect por $10.18 por acción en efectivo. La junta directiva de la compañía evaluará la propuesta con asesores legales y financieros de acuerdo con sus deberes fiduciarios.
La propuesta está sujeta a una mayor diligencia debida por parte de Steel Connect y no hay garantía de un acuerdo definitivo o de la finalización de la transacción. Se aconseja a los accionistas que no se requiere ninguna acción inmediata. BofA Securities actúa como asesor financiero, mientras que Womble Bond Dickinson y Richards, Layton & Finger actúan como asesores legales. Además, Sodali & Co. y Gagnier Communications sirven como asesores estratégicos de accionistas y de comunicación, respectivamente.
DMC Global (Nasdaq: BOOM)는 Steel Connect로부터 비구속적 인수 제안을 받아 Steel Connect가 소유하고 있지 않은 모든 유통 주식을 현금으로 주당 $10.18에 인수하겠다고 제안했습니다. 회사 이사회는 법률 및 재무 고문과 함께 제안을 평가할 예정이며, 이는 신뢰 의무에 따른 것입니다.
이 제안은 Steel Connect의 추가 실사에 따라 달라지며, 최종 계약 또는 거래 완료에 대한 보장은 없습니다. 주주들에게는 즉각적인 조치가 필요하지 않다고 조언합니다. BofA 증권은 재무 고문으로 활동하며, Womble Bond Dickinson 및 Richards, Layton & Finger는 법률 고문으로 활동하고 있습니다. 추가로, Sodali & Co.와 Gagnier Communications가 각각 전략적 주주 및 커뮤니케이션 고문으로 활동하고 있습니다.
DMC Global (Nasdaq: BOOM) a reçu une proposition d'acquisition non contraignante de Steel Connect pour acheter toutes les actions en circulation non déjà détenues par Steel Connect pour 10,18 $ par action en espèces. Le conseil d'administration de la société évaluera la proposition avec des conseillers juridiques et financiers conformément aux devoirs fiduciaires.
La proposition est soumise à une diligence raisonnable supplémentaire par Steel Connect, et il n'y a aucune garantie qu'un accord définitif ou la conclusion de la transaction aura lieu. Il est conseillé aux actionnaires qu'aucune action immédiate n'est requise. BofA Securities agit en tant que conseiller financier, tandis que Womble Bond Dickinson et Richards, Layton & Finger agissent en tant que conseillers juridiques. De plus, Sodali & Co. et Gagnier Communications agissent respectivement en tant que conseillers stratégiques pour les actionnaires et en communication.
DMC Global (Nasdaq: BOOM) hat ein nicht verbindliches Übernahmeangebot von Steel Connect erhalten, um alle ausstehenden Aktien, die noch nicht im Besitz von Steel Connect sind, zum Preis von 10,18 $ pro Aktie in bar zu kaufen. Der Vorstand des Unternehmens wird das Angebot zusammen mit rechtlichen und finanziellen Beratern gemäß den Treuhandpflichten prüfen.
Das Angebot unterliegt weiteren Prüfungen durch Steel Connect, und es gibt keine Garantie für eine endgültige Vereinbarung oder den Abschluss der Transaktion. Aktionäre wird geraten, dass keine sofortigen Maßnahmen erforderlich sind. BofA Securities fungiert als Finanzberater, während Womble Bond Dickinson und Richards, Layton & Finger als Rechtsberater tätig sind. Darüber hinaus fungieren Sodali & Co. und Gagnier Communications als strategische Berater für Aktionäre und Kommunikationsberater.
- Potential acquisition offer at $10.18 per share in cash
- Professional advisory team assembled including BofA Securities
- Proposal is non-binding and subject to due diligence
- No guarantee of deal completion or final agreement
Insights
The non-binding acquisition proposal from Steel Connect marks a significant development for DMC Global shareholders. The offered price of
Several critical factors merit attention: First, Steel Connect's requirement for additional due diligence suggests potential concerns or uncertainties that could affect the final deal terms. The involvement of BofA Securities as financial advisor and multiple legal firms indicates DMC's board is preparing for a thorough evaluation process.
The timing of this proposal is particularly interesting given the current market dynamics in the industrial sector. Steel Connect's interest could be driven by:
- DMC's strategic assets in the energy and industrial markets
- Potential synergies between the companies' operations
- The current valuation presenting an attractive entry point
Shareholders should note that this is merely the first step in what could be a lengthy process. The board's fiduciary duty requires them to evaluate not just the current offer, but also potential alternatives that could deliver superior value. The presence of Sodali & Co. as stockholder advisor suggests the board anticipates active shareholder engagement throughout this process.
The market's reaction to this news will be crucial, as it could attract competing bids if other strategic buyers view DMC as an attractive acquisition target at this valuation. However, the current economic environment and financing conditions could impact both the timeline and ultimate success of any potential transaction.
BROOMFIELD, Colo., Feb. 10, 2025 (GLOBE NEWSWIRE) -- DMC Global Inc. (Nasdaq: BOOM) (“DMC” or the “Company”) today acknowledged receipt of a non-binding proposal from Steel Connect to acquire all of the outstanding shares of common stock of the Company, not already owned by Steel Connect, for
DMC’s board of directors (the “Board”) will consider the Proposal in consultation with its legal and financial advisors and in accordance with its fiduciary duties. In the meantime, stockholders need not take any action.
The Proposal is subject to further due diligence by Steel Connect. There can be no assurance that any definitive agreement will be executed, or that the Proposal or any other transaction will be approved or consummated. The Company will have no further comment on the Proposal until the Board has completed its review.
Advisors
BofA Securities is acting as financial advisor to DMC. Womble Bond Dickinson (US) LLP and Richards, Layton & Finger, P.A. are acting as DMC’s legal advisors, Sodali & Co. is acting as its strategic stockholder advisor, and Gagnier Communications LLC is its strategic communications advisor.
About DMC Global
DMC Global is an owner and operator of innovative, asset-light manufacturing businesses that provide unique, highly engineered products and differentiated solutions. DMC’s businesses have established leadership positions in their respective markets and consist of: Arcadia, a leading supplier of architectural building products; DynaEnergetics, which serves the global energy industry; and NobelClad, which addresses the global industrial infrastructure and transportation sectors. Based in Broomfield, Colorado, DMC trades on Nasdaq under the symbol “BOOM.” For more information, visit: HTTP://WWW.DMCGLOBAL.COM.
Safe Harbor Language
This news release contains certain forward-looking statements regarding the Company. All of these statements are based on management’s expectations as well as estimates and assumptions prepared by management that, although they believe to be reasonable, are inherently uncertain. These statements involve risks and uncertainties, including, but not limited to, economic, competitive, governmental and other factors outside of the Company’s control that may cause its business, industry, strategy, financing activities or actual results to differ materially. More information on potential factors that could affect the Company and its financial results is available in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections within the Company’s Annual Report on Form 10-K for the year ended December 31, 2023, and in other documents that the Company has filed with, or furnished to, the U.S. Securities and Exchange Commission. The Company does not undertake any obligation to release public revisions to any forward-looking statement, including, without limitation, to reflect events or circumstances after the date of this news release, or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws.
CONTACT:
Investors:
Geoff High
Vice President of Investor Relations
303-604-3924
Media:
Riyaz Lalani or Dan Gagnier
Gagnier Communications
416-305-1459
DMCGLOBAL@GAGNIERFC.COM
FAQ
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