SNC Buys Spacedev

SpaceDev Signs Agreement to Be Acquired by Sierra Nevada Corporation

"SpaceDev, Inc. announced [Monday] that it has signed an agreement to be acquired by privately-held Sierra Nevada Corporation (SNC). Under the agreement, SNC would acquire for cash the outstanding equity of SpaceDev for the gross purchase price of $38 million, which after certain deductions is expected to result in a net price to holders of SpaceDev common stock between $0.68 and $0.72 per share. The expected price represents a premium of between 42% and 50% over the average closing price of SpaceDev's common stock over the 30 trading days preceding this announcement."

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This page contains a single entry by Keith Cowing published on October 21, 2008 9:40 AM.

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