HomeEquities ScoreSelect Interior Concepts Inc. (SIC) stock rises during pre-market. Let’s find out...

Select Interior Concepts Inc. (SIC) stock rises during pre-market. Let’s find out why?

Select Interior Concepts Inc. (NASDAQ: SIC) stock soared by 2.99%at last close while the SIC stock price surges by 28.61% in the pre-market trading session. Select Interior Concepts is a major interior construction supply distributor with market-leading positions in highly desirable markets.

>> 7 Top Picks for the Post-Pandemic Economy << 

SIC stock, Current Update

Select Interior Concepts reported that it has signed a final deal under which an entity of Sun Capital Partners would purchase the company for $411 million in an all-cash transaction.


3 Tiny Stocks Primed to Explode The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.

We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.

Click here for full details and to join for free.

Sponsored


Read More

Every share of SIC common stock issued and outstanding immediately prior to the finalization of the transaction will be allowed to obtain $14.50 in cash, representing a 32 percent premium over SIC’s closing price and a 42 percent premium over SIC’s 30-day volume-weighted average price of $10.20 on August 6, 2021, according to the terms of the deal.

The transaction is scheduled to conclude early in the fourth quarter of 2021, pursuant to shareholder approval and other normal closing requirements, along with the receipt of needed regulatory clearances. SIC will be a privately owned business when the deal is completed, and shares of SIC common stock will no longer be issued on any public exchanges.

Brett G. Wyard, Chairman of SIC Stock, stated that,

As they declared the sale of their Residential Design Services division on June 30, 2021, they stated that the Board of Directors was carefully examining a wide range of key, operational, and financial options to make sure the Company was on the best path to generating shareholder value. They are happy to engage into a formal selling agreement with a Sun Capital subsidiary after careful and serious discussion with their financial advisers. The Board evaluated the present status of the business, as well as its prospects and possibilities, before reaching its decision. This route, they think, is in the shareholders’ best interests, since it provides them with quick and considerable return for their investment.

Related Videos

Must Read

Related News

LEAVE A REPLY

Please enter your comment!
Please enter your name here