Might have to agree to disagree about visibility. I wish all the companies I hold would issue Q updates the way Pointerra does in terms of current and prospective activities on a customer-by-customer, sector-by-sector basis, technical development/R&D and Corporate/Compliance. The last Q Activities Update ran to 20 pages.
Notwithstanding, for some reason you prompted me to look at the Nearmap chart.
For anyone who didn't know - I didn't - on 15 August NEA "received a non-binding indication of interest from Thoma Bravo L.P. a leading software investment firm, to acquire 100% of the shares in Nearmap for $2.10 cash per share.
The Proposal at $2.10 cash per share implies a fully diluted equity valuation of approximately $1,055 million for Nearmap, and represents:
• an 83% premium to Nearmap’s closing price of $1.15 on Tuesday 5 July 2022, being the day prior to the initial receipt of the Proposal;
• a 67% premium to Nearmap’s 6-month volume weighted average price of $1.26 to Friday 12 August 2022, being the last trading day prior to this announcement; and
• a 39% premium to Nearmap’s closing price of $1.51 on Friday 12 August 2022, being the last trading day prior to this announcement.
Thoma Bravo is one of the largest private equity firms in the world with more than US$114 billion in assets under management, investing in growth-oriented, innovative companies in the software and technology sectors. Over the past 20 years, the firm has acquired or invested in more than 380 companies representing over US$190 billion in enterprise value.
Could be just me, but given Pointerra's proximity to Nearmap, and Thoma Bravo's voracious appetite for acquistion, it is almost inconceivable that Pointerra is not on their radar.
Might go some way to explaining the range-bound SP of late.
Entirely my own speculation, but something to think about.
3DP Price at posting:
19.0¢ Sentiment: Buy Disclosure: Held
