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ZoomerMedia has announced a definitive agreement for a going-private transaction. The company's Shareholder Group, led by Moses Znaimer, will acquire all outstanding minority shares for $0.08 per share, representing a 167% premium to the closing price on October 10, 2024. The transaction, valued at approximately $6.7 million, is supported by Fairfax Financial Holdings and Omri Tintpulver.
The deal requires approval from two-thirds of shareholders and a majority of minority shareholders. If approved, the transaction is expected to close in December 2024. The company's board, following the recommendation of an independent Special Committee, unanimously supports the transaction as being in the best interests of ZoomerMedia and fair to minority shareholders.
