Deal Snapshot
US SOFTWARE SUPPORT SERVICES FIRM RIMINI STREET CLOSES MERGER WITH GPIAC IN USD 837M DEAL
Thursday 12 October 2017

Nevada, US-based enterprise software support services company Rimini Street, Inc. has closed a merger agreement with New York, US-based acquisition company GP Investments Acquisition Corp. (NASDAQ: GPIA) (NASDAQ: GPIAW) (NASDAQ: GPIAU), the company said.
The transaction was funded via the issuance of approximately 63.8m shares of GPIAC common stock at USD 10.00 per share to Rimini Street's shareholders. Cash at closing in GPIAC's trust account and cash proceeds from the issuance of up to 3.5m shares of GPIAC common stock at USD 10.00 per share to an affiliate of GP Investments, Ltd. that will provide required cash at closing used to pay certain transaction expenses, reduce net debt and provide additional balance sheet cash. The initial enterprise value is approximately USD 837m, with a post-closing equity value of USD 854m at USD 10.00 per share.


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Details
Date Published: 12/10/2017
Target: Rimini Street, Inc
Country: USA
Deal Size: 873m (USD)
Sector: Computer Software
Type: Merger
Financing: Cash and Stock
Status: Closed
Vendor:
Buyer: GP Investments Acquisition Corp
Buyer Advisor: Citigroup , Skadden, Arps, Slate, Meagher and Flom
Comment:


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