Evercel led buyer group to acquire ZAGG

• ZAGG (NASDAQ:ZAGG) enters into a definitive agreement pursuant to which the buyer group led by Evercel (OTCPK:EVRC) will acquire all of the issued and outstanding shares for up to $4.45 per share in cash.
• Stockholders will receive $4.20 per share in cash upon closing and will be entitled to receive an additional contingent amount of up to $0.25 per share, to be paid if the company’s Paycheck Protection Program Loan (or PPP Loan) is forgiven and any audit related thereto is satisfactorily completed.
• The transaction is expected to close in Q1 of 2021.
• “We are pleased with the value this transaction delivers to our stockholders and believe this is a positive development for all of our stakeholders. We look forward to continuing to serve our customers through exceptional products and continued industry-leading innovation. We are optimistic about our continued growth and the support that will be provided by Evercel.” comments Chris Ahern, CEO.