HireRight, Inc. (NASDAQ: HIRE) is going private and shares are surging as a result. The company has entered into an agreement to be acquired by US Investigations Services, LLC, a Delaware limited liability company and Hercules Acquisition Corp. Under this buyback shares shall be canceled and converted automatically into the right to receive $15.60 in cash, without interest.
The merger is subject to regulatory approval and subject to shareholder approval. As far as how this compares to shareholders, HireRight's 52-week trading range is $8.00 to $15.15. Shares closed at $10.47 yesterday, giving this a near 50% premium. This stock has been public since last summer.
On last look with an hour to the open it looks like about 26,000 shares had traded hands and the last seen print was at $15.25.
The merger is subject to regulatory approval and subject to shareholder approval. As far as how this compares to shareholders, HireRight's 52-week trading range is $8.00 to $15.15. Shares closed at $10.47 yesterday, giving this a near 50% premium. This stock has been public since last summer.
On last look with an hour to the open it looks like about 26,000 shares had traded hands and the last seen print was at $15.25.
