Short-Term Investor: Procera Networks Returns 18% In 37 Trading Days

(RTTNews) - Procera Networks Inc. (PKT) has already been featured on Short-Term Investor on February 27 at $9.75. Earlier today, the company said it signed a definitive agreement to be acquired by private funds managed by Francisco Partners Management, L.P. in an all-cash transaction valued at about $240 million.

The acquisition price represents a gain of 18% from our published price in 37 trading days.

Under the terms of the definitive agreement, Francisco Partners will commence a tender offer no later than May 5, 2015 to acquire all outstanding shares of Procera's common stock for $11.50 per share in cash. This represents a premium of about 21% over the closing price of Procera's common stock on April 21, 2015, and a premium of about 32% over the unaffected closing price on January 22, 2015, the last day prior to an article reporting the potential sale of the company. Procera's Board of Directors has unanimously approved the transaction.

PKT is also our G&V stock, which we alerted to subscribers on February 14, 2011 when the stock was trading at $7.55. The stock returned the gains of 243.7% on July 27, 2012.

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