[ad_1]
©Reuters.
GREENWICH, CT and EAST HANOVER, NJ – SilverSun Technologies, Inc. (NASDAQ:SSNT), a technology company, has received shareholder approval for a significant equity investment from Jacobs Private Equity II, LLC (JPE) and certain minority shareholders. I got it. investors. The investment, totaling $1 billion, was supported by approximately 99.5% of the votes cast at the special meeting and reflected the consent of approximately 65.7% of all outstanding shares as of February 12, 2024.
The transaction is subject to standard closing conditions and is expected to close by the end of the year. The precise terms of the investment and the final voting results will be disclosed in a future Form 8-K filing with the Securities and Exchange Commission.
JPE, led by Brad Jacobs, has selected Goldman Sachs and Morgan Stanley as financial advisors, and Wachtel, Lipton, Rosen & Katz is serving as legal advisor. Meanwhile, SilverSun engages The Benchmark Company, LLC for financial advice and Lucosky Brookman LLP for legal matters.
This press release contains forward-looking statements and cautions that actual results may differ due to a variety of factors, including unanticipated costs and delays associated with equity investments and related transactions. It also highlighted risks related to the company’s publicly traded stock, potential competing offers, and the impact of future financings on the company’s stock price and business.
The investment agreement includes a plan to separate SilverSun’s existing operations into a new entity, SilverSun Technologies Holdings, Inc., and other related transactions. The company’s future depends on Jacobs’ continued leadership as chairman and CEO, and the press release emphasized the importance of his role and the potential negative impact of his departure. ing.
The release also touched on the uncertainties inherent in the building materials distribution industry, which Jacobs plans to acquire following its investment. These uncertainties include economic conditions, trade barriers, and the cyclical and seasonal nature of the industry.
This news is based on a press release and does not contain any content based on speculation or opinion.
This article was generated with the help of AI and reviewed by an editor. Please see our Terms of Use for more information.
[ad_2]
Source link
