KORE Group's stock price soars 76% following $726 million acquisition deal

LootboxPhobia · 2026-02-27T14:38:14+00:00

KORE Group Holdings stock price surged 76% after reaching a $7.426 billion all-cash acquisition agreement with Searchlight Capital Partners and Abry Partners, at $9.25 per share, a 691% premium. The deal is subject to shareholder and regulatory approval, with completion expected in 2026, at which point KORE will become a private company.

LootboxPhobia

2026-02-27 14:38:14

Abstract generation in progress

Investing.com – KORE Group Holdings (NYSE:KORE) stock surged 76% on Friday after the company announced a $726 million all-cash acquisition agreement with Searchlight Capital Partners and Abry Partners, with an purchase price of $9.25 per share.

This deal represents a 691% premium over KORE’s closing price of $1.17 on December 18, 2023, which was the last trading day before Searchlight indicated it might seek a full acquisition. The stock closed Thursday at $5.01.

Under the agreement, Searchlight and Abry will acquire all of the outstanding common shares they do not currently own. Abry currently owns approximately 28% of KORE’s common stock, while Searchlight holds all of the company’s A-1 series preferred stock, with a liquidation preference of about $275 million, as well as warrants to purchase approximately 14% of the shares on a fully diluted basis.

KORE’s board of directors, upon the recommendation of a special committee composed of independent directors, unanimously approved the transaction. The committee was established to evaluate strategic options for the company and its shareholders.

“We are pleased to reach this agreement with Abry and Searchlight, which delivers significant value to our shareholders through a substantial premium,” said Ron Totton, CEO and President of KORE.

The transaction is subject to approval by a majority of the voting shares outstanding, as well as approval by a majority of shareholders excluding Searchlight, Abry, affiliated board members, and certain company executives. It also requires regulatory approvals, including clearance under the Hart-Scott-Rodino Antitrust Improvements Act and approval from the Committee on Foreign Investment in the United States (CFIUS).

The completion of the transaction is not conditioned on financing. KORE expects the deal to close in the second or third quarter of 2026. After closing, KORE will operate as a privately held company.

This article was translated with the assistance of artificial intelligence. For more information, please see our Terms of Use.

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.

1 Likes