PFDR - PFDR STOCK NEWS

FP Credit Partners II, L.P. and FP Credit Partners Phoenix II, L.P. have terminated their tender offer to purchase up to $75 million of Class A Ordinary shares of Pathfinder Acquisition Corporation (NASDAQ: PFDR). The offer, which was set to expire on January 4, 2023, was priced at $10.00 per share. As a result of this termination, no shares will be purchased, and those already tendered will be returned. Francisco Partners has committed to purchasing $75 million of common stock of the newly public entity as part of its business combination.

FP Credit Partners II, L.P. and FP Credit Partners Phoenix II, L.P. are initiating a cash tender offer to acquire up to 7,500,000 Class A Ordinary shares of Pathfinder Acquisition Corporation (NASDAQ: PFDR) at $10.00 per share. This cash offer is set to expire on January 4, 2023, unless extended. The offer is subject to customary closing conditions and does not include a financing condition. Shareholders interested in tendering their shares must follow the procedures outlined in the Offer to Purchase and related documents, which have been filed with the SEC.

Pathfinder Acquisition Corporation (NASDAQ: PFDR) has announced a definitive business combination with Movella Inc., a leader in digitizing movement, valuing the combined entity at approximately $537 million. This transaction is set to close in Q1 2023, pending shareholder approval. The capital raised will focus on expanding Movella’s business, which designs advanced sensor technology for entertainment, health, and sports markets. The deal includes $75 million in committed financing from Francisco Partners and aims for Movella to achieve breakeven on Adjusted EBITDA by Q3 2023.

Pathfinder Acquisition Corporation (NASDAQ: PFDR) and Service Max, Inc. have mutually agreed to terminate their Business Combination Agreement, effective immediately, due to unfavorable market conditions. No termination fees will be incurred by either party as a result of this decision. Pathfinder has canceled its extraordinary shareholder meeting originally scheduled for December 7, 2021, which was intended to vote on the agreement. The company plans to pursue another business combination before its dissolution deadline of February 19, 2023.

ServiceMax, a leader in asset-centric field service management, announced new features for its Engage mobile app aimed at enhancing customer self-service capabilities. Key updates include real-time asset data access, improved technician tracking, and customized branding. These features arise from increased demand for self-service options post-pandemic. Additionally, ServiceMax's recent acquisition of LiquidFrameworks and a 20% revenue growth to $33.2 million indicate strong business momentum. The company is also expected to merge with Pathfinder Acquisition Corporation (NASDAQ: PFDR) on December 7, 2021.

ServiceMax announced preliminary results for fiscal Q3 2022, revealing total revenue of $33.2 million, a 20% year-over-year increase. Subscription revenue reached $28.7 million, up 23% year-over-year. The operating loss improved to ($14.0) million, compared to ($15.8) million in Q3 2021. The company completed its acquisition of LiquidFrameworks on November 1, 2021. For Q4 2022, ServiceMax projects total revenue between $38.5 million and $39.5 million, and for the fiscal year, total revenue is expected between $134 million and $135 million.

Pathfinder Acquisition Corporation (NASDAQ: PFDR) announced the SEC's effective declaration of its registration statement on Form S-4 for its business combination with ServiceMax, Inc. This merger is scheduled for an Extraordinary General Meeting on December 7, 2021, where shareholders can vote until December 6, 2021. If approved, the combined entity will be named ServiceMax, with its stock traded as 'SMAX' on NASDAQ. Recent highlights for ServiceMax include the acquisition of LiquidFrameworks and being named a leader in the Gartner Magic Quadrant for Field Service Management.

ServiceMax appointed Pavel Kovar as Chief Accounting Officer, reporting to CFO Simon Edwards. Kovar, who previously held key finance roles at Houzz Inc. and TiVo, will manage global accounting operations as ServiceMax prepares for its NASDAQ listing via a business combination with Pathfinder Acquisition Corporation (NASDAQ: PFDR). This leadership transition aims to enhance execution, efficiency, and cash position, supporting ServiceMax's growth strategy in the upcoming fiscal year.

ServiceMax, a leader in asset-centric field service management, announced new features for Asset 360 at Dreamforce, enhancing service agility and asset visibility. Key updates include an Asset Hierarchy for improved visibility, templated service contracts reducing manual errors, enhanced compatibility with Revenue Cloud for streamlined pricing, and automated processes for warranty repairs. These advancements aim to optimize asset performance and drive profitability for customers, such as Eastman Kodak. ServiceMax continues to support advanced asset-centric organizations in managing complexities effectively.