ZeroFox Holdings (ZFOX) has released an update to notify the public and investors about an entry into a material definitive agreement.
ZeroFox Holdings, Inc. has entered into a definitive Merger Agreement with ZI Intermediate II, Inc. and HI Optimus Merger Sub, Inc., which will result in ZeroFox becoming a wholly-owned subsidiary of the Parent company. Under the agreement, each share of ZeroFox common stock will be converted into the right to receive $1.14 in cash. The deal has the unanimous support of ZeroFox’s Board of Directors and is expected to close in the first half of 2024, with the common stock being delisted from the Nasdaq Stock Market thereafter. The transaction is subject to customary closing conditions, including regulatory approvals and the affirmative vote of ZeroFox’s shareholders.
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For a comprehensive understanding of the announcement, you can read the full document here.
