DMC Global Acknowledges Non-Binding Proposal from Steel Connect

Rhea-AI Summary

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.

Positive

• Potential acquisition offer at $10.18 per share in cash
• Professional advisory team assembled including BofA Securities

Negative

• Proposal is non-binding and subject to due diligence
• No guarantee of deal completion or final agreement

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 $10.18 per share in cash (the “Proposal”).

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

What is the per-share price offered for BOOM stock in Steel Connect's proposal?

Steel Connect has offered $10.18 per share in cash for DMC Global (BOOM) shares not already owned by Steel Connect.

Is Steel Connect's proposal to acquire BOOM stock binding?

No, the proposal is non-binding and subject to further due diligence by Steel Connect.

Who are the financial advisors for DMC Global (BOOM) regarding the Steel Connect proposal?

BofA Securities is acting as the financial advisor to DMC Global for the Steel Connect proposal.

Do BOOM shareholders need to take any immediate action regarding the Steel Connect proposal?

No, stockholders do not need to take any action at this time while the board reviews the proposal.

What is the current status of Steel Connect's proposal to acquire BOOM stock?

The proposal is under review by DMC Global's board of directors in consultation with legal and financial advisors.