K1 Investment Management Makes Bid For MariaDB Buyout

KUALA LUMPUR, Feb 19 (Bernama) -- K1 Investment Management LLC (K1) has confirmed a non-binding proposal made to MariaDB’s board of directors to acquire, together with K1’s investment affiliates, all of the issued, and to be issued, share capital of MariaDB at a value of US$0.55 per share (Possible Offer). (US$1=RM4.77)

The terms represent a 189 per cent premium to MariaDB’s closing share price on Feb 5 the last full trading day prior to the announcement by MariaDB of a potential forbearance agreement with RP Ventures LLC and Hale Capital Partners; and a 114 per cent premium to its average closing share price of the last 30 calendar days.

According to a statement, K1 has a high regard for the MariaDB business and looks forward to engaging with MariaDB in connection with the Possible Offer.

It is intended that the proposed transaction would be effected by way of an Irish law scheme of arrangement whereby K1, or its affiliates, would acquire 100 per cent of the issued shares of the company.

However, K1 reserves the right to implement the proposal, instead, by way of contractual offer, in which the form and/or mix of the offer consideration has not yet been determined.

There can be no certainty that any offer will be made, nor as to the terms on which any such offer might be made.

A global investment firm that builds category-leading enterprise software companies, K1 partners with strong management teams of high-growth technology businesses to help them achieve successful outcomes.

-- BERNAMA