Newton, mass.--(business wire)--alerislife inc. (nasdaq: alr) today announced that abp acquisition llc, or abp, has successfully completed the previously announced tender offer to acquire all outstanding shares of the common stock of alr for $1.31 per share in cash. $1.31 per share represents an 85% premium to the 30-day average trading price prior to the tender announcement. the tender offer expired at one minute after 11:59 p.m., eastern time, on march 17, 2023. as of the expiration, 22,375,687 shares had been validly tendered and not validly withdrawn from the tender offer, representing approximately 72.8% of the outstanding shares of alr common stock, including the 1,972,783 shares already owned by abp. abp subsequently accepted all 22,375,687 shares for payment. following the closing of the tender offer, alr merged with and into a subsidiary of abp and all shares that had not been validly tendered were converted into the right to receive the same $1.31 per share in cash. as a result of the merger, alr became a wholly owned subsidiary of abp. shares of alr common stock ceased trading on nasdaq and abp intends to promptly cause such shares to be delisted. payment will be made promptly to all former alr stockholders regardless of whether they tendered their shares. about alerislife alerislife enriches and inspires the lives of its older adult customers across the united states by delivering an exceptional and enhanced resident experience to senior living and active adult residents, while also offering lifestyle services to the younger “choice-based” consumer. the company is headquartered in newton, massachusetts. for more information, visit www.alerislife.com.
ALR Ratings Summary
ALR Quant Ranking
You've reached your free article limit.
Want To Read More Articles?
See what it all means for your stocks with premium tools
Stockprices is a weekly video covering what moved markets
this week, featuring a panel of Stockprices editors. It is published by the
close of trading on Fridays. Hosted by Nathaniel E. Baker, contributing editor,
and featuring: Aaron Task, VP Contributor Content and co-host Stockprices's Alpha
Trader podcast; Brad Olesen, VP News; Steve Alpher, Managing Editor News, co-host
Alpha Trader.
Unsubscribe From All
You successfully activated
“Only Essentials”
Confirm Upgrade
Your subscription will be moved to the annual plan. Service will automatically renew unless cancelled. No Refunds. Click upgrade to confirm.
Stockprices uses Plaid to connect you account
Connect effortlessly
Plaid lets you securely connect your financial accounts in seconds
Your data belongs to you
Plaid doesn't sell personal info, and will only use it with your permission