Arc document solutions, inc. and members of company management announce definitive merger agreement

San ramon, ca / accesswire / august 28, 2024 / arc document solutions, inc. (the "company") (nyse:arc) announced today it has signed a definitive agreement with techprint holdings, llc, an affiliate of kumarakulasingam suriyakumar, the company's chairman and chief executive officer, dilantha wijesuriya, the company's president and chief operating officer, jorge avalos, the company's chief financial officer, rahul roy, the company's chief technology officer, sujeewa sean pathiratne, a private investor, and certain entities affiliated with such persons (collectively, the "acquisition group"), pursuant to which the company will merge with and into techprint merger sub, inc., a wholly-owned subsidiary of techprint holdings, llc, and each outstanding share of common stock of the company will be converted into the right to receive cash consideration of $3.40 per share (the "transaction"). the acquisition group currently collectively owns approximately 15.8% of the voting power of the company's outstanding capital stock, and currently collectively beneficially owns approximately 19.6% of the shares of the company's stock.
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