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HedgeCo.Net \u2014 Arcline Investment Management said it had completed its take-private acquisition of AstroNova, the aerospace-and-defense and labeling-and-packaging identification company formerly listed as ALOT. The August 27 PR Newswire completion release is the primary. AstroNova\u2019s SEC exhibit EX-99.1 independently confirmed completion at $29.00 per share in cash and the Nasdaq delisting.<\/p>\n
Shareholders approved the deal at a special meeting on August 25. The merger became effective around August 26\u201327, with Orion MergerCo X merging into AstroNova as an Arcline-controlled wholly owned subsidiary. AstroNova\u2019s closing 8-K puts total equity consideration at approximately $241.9 million on roughly 8.4 million shares outstanding; the June announcement framed enterprise value near $272 million. Arcline describes itself as managing more than $30 billion and building industrial compounder platforms.<\/p>\n
The June 17 announcement-to-close sprint was about 71 days, with financing not conditioned on third-party availability because Arcline funds guaranteed the merger consideration. The company repaid and terminated its Bank of America credit facility at closing, per the closing materials.<\/p>\n
The allocator object is a closed small-cap industrial take-private, not a new Arcline flagship raise. Mark the $29 cash price and the completed delisting, not a still-pending shareholder vote.<\/p>\n","protected":false},"excerpt":{"rendered":"
HedgeCo.Net \u2014 Arcline Investment Management said it had completed its take-private acquisition of AstroNova, the aerospace-and-defense and labeling-and-packaging identification com\u2026 Continue reading