Fundamental Advisors To Acquire MMA Capital Holdings For About $161.7 Mln Cash - Quick Facts

(RTTNews) - Infrastructure finance company MMA Capital Holdings, Inc. (MMAC) announced Monday that it has entered into a definitive merger agreement with an affiliate of Fundamental Advisors LP, under which it will be acquired by Fundamental in an all-cash transaction valued at approximately $161.7 million.

Under the terms, holders of MMA's common stock will upon the closing of the merger receive $27.77 per share in cash. This represents a 62% premium over the May 21, 2021, closing share price.

The agreement has been approved by the Company's Board of Directors upon the unanimous recommendation of a Transaction Committee consisting of all disinterested directors.

The transaction, which is currently expected to close in the third quarter of 2021, is subject to customary closing conditions, including the approval of MMA's stockholders, who will vote on the transaction at a special meeting on a date to be announced.

Closing of the transaction is also contingent on the simultaneous termination of the Company's external management agreement and the acquisition by Fundamental of certain platform assets from MMA's external manager.