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Why Is ULY Stock Up Over 160% After Hours?
(MENAFN- AsiaNet News)
The purchase price represents a premium of about 171% from the stock’s closing price on Thursday.
Following the transaction, Agero will continue to be privately held, the company said.
The merger is expected to close by the end of May 2026, upon the satisfaction of customary closing conditions.
Shares of Urgent, Inc. (ULY) rose 161% after hours on Friday after privately held digital driver assistance service provider Agero, Inc. said that it would acquire the company for $5.50 per share.
The purchase price represents a premium of about 171% from the stock’s closing price on Thursday.
Rationale
Urgent is a U.S.-based provider of technology-focused roadside and mobility assistance with solutions within the automotive, fleet, and rental markets. Agero said that the acquisition will combine the two companies’ technology, talent and scale to enhance the roadside assistance ecosystem, including for automakers, dealerships, insurance carriers, fleet operators, and the drivers they serve.
“This acquisition presents a natural fit,” said Matthew Booth, CEO of Urgently.
Following the transaction, Agero will continue to be privately held, the company said.
Deal Details
Under the deal, a unit of Agero will commence a tender offer to acquire all outstanding shares of Urgently. Following the closing of the tender offer, Urgently will merge with a subsidiary of Agero. The merger is expected to close by the end of May 2026, upon the satisfaction of customary closing conditions.
Separately, the company also announced fourth quarter earnings wherein the company’s revenue grew 4% year-over-year to $33.3 million. Adjusted operating income came in at $0.2 million, compared to an adjusted loss of $3 million reported in the corresponding quarter of last year.
How Did Stocktwits Users React?
On Stocktwits, retail sentiment around ULY stock rose from bearish to bullish territory over the past 24 hours while message volume increased from normal to high levels.
ULY stock has dropped 44% over the past 12 months.
For updates and corrections, email newsroom[at]stocktwits[dot]com.
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