American Virtual Cloud Technologies (AVCT) Receives $9/Share Unsolicited Non-Binding Acquisition Proposal

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Go back to American Virtual Cloud Technologies (AVCT) Receives $9/Share Unsolicited Non-Binding Acquisition Proposal

AVC Technologies Announces Receipt of Unsolicited Non-Binding Acquisition Proposal and Exploration of Strategic Alternatives

April 7, 2021 4:15 PM EDT

ATLANTA, April 07, 2021 (GLOBE NEWSWIRE) -- American Virtual Cloud Technologies, Inc. (NASDAQ: AVCT) (AVC Technologies or the Company) today announced that it has received an unsolicited non-binding proposal, subject to certain conditions, to acquire all of the issued and outstanding shares of common stock of the Company (on an as-converted and as-exercised basis) for a price of approximately $9.00 per share.

As a result, the Board of Directors has determined to commence a process to explore, review and evaluate a range of potential strategic alternatives available to the Company, including the unsolicited acquisition proposal, and intends... More