Everbridge Inc EVBG:NASDAQ

Last Price$35.16NASDAQ Previous Close - Last Trade as of 4:00PM ET 8/18/22

Today's Change-0.34(0.96%)
Bid (Size)$20.00 (1)
Ask (Size)$52.50 (1)
Day Low / High$34.91 - 35.60
Volume369.3 K

Everbridge Replies to Shareholder Ancora; Says it Will Improve Strategic Direction, Pause M&A Deals

11:57AM ET 4/29/2022 MT Newswires
Everbridge (EVBG) said Friday in response to a statement from its shareholder Ancora that it's "open to all opportunities to enhance shareholder value."

The software company said its board recently undertook a review of its strategy and will "improve [its] go-forward strategic direction, go-to-market execution, and efficiency, including by pausing material new M&A and focusing on integrating previous acquisitions."

Everbridge said it has engaged with Ancora "to understand its perspectives" and believes "Ancora's sole substantive objective has been an immediate sale" of the company.

"We believe Ancora's attempts to disrupt the leadership of Everbridge both through its public campaign to oppose our directors, which it chose to announce well after [Everbridge] had nominated its candidates for election at the upcoming annual meeting, and its demands to abandon our CEO search midstream are intended to make a near-term sale a foregone conclusion," Everbridge said.

Ancora had said on Thursday a sale of Everbridge to "a well-capitalized acquirer could deliver more than $70 per share."

Price: 45.39, Change: -0.42, Percent Change: -0.92