- The deal converts each AstroNova share into $29 in cash
- The company will cease trading and delist from the Nasdaq following the close
- Shareholders will receive transmittal instructions for surrendering shares in exchange for payment
Arcline Investment Management has completed its previously announced acquisition of AstroNova, with affiliates of Arcline acquiring all outstanding common stock of the company for $29 per share in an all-cash transaction.
The company will cease trading and be delisted from the Nasdaq.
AstroNova’s Aerospace segment supplies airborne printing solutions, avionics and data acquisition products, including flight deck printing solutions, networking hardware and specialized aerospace-grade supplies. Its Product Identification segment delivers marking and identification hardware, software and consumables for OEMs, commercial printers and brand owners, serving labels, flexible packaging, corrugated and industrial substrate applications.
Shareholders will soon receive a letter of transmittal with instructions for surrendering stock certificates, book-entry shares or other required documents in exchange for the merger consideration; those holding shares in street name will receive payment directly in their brokerage accounts.
Arcline is a growth-oriented private equity firm with more than $30 billion in assets under management.
Editor’s note: This news brief was produced with the assistance of artificial intelligence.