IronSource pushes back shareholder vote on Unity sale to Oct. 7, Unity sets vote for same date (Update)

Sep. 08, 2022 11:55 AM ETUnity Software Inc. (U), APPBy: Joshua Fineman, SA News Editor10 Comments

Ironsource mobile advertising company office facade in Silicon Valley

Michael Vi

Update 11:55am: Adds Unity setting same holder vote day, rationale for delay.

IronSource (NYSE:IS) pushed back a date for its shareholder vote for its planned sale to Unity Software (NYSE:U) to Oct. 7 from Oct. 3. Unity also separately disclosed it set Oct. 7 for its holder vote.

The Sept. 2 record date for the IS vote remains unchanged, according a 6-K filing.

IronSource (IS) originally set the date as Oct. 3, though it always intended to have the same date for a shareholder vote as Unity (U), according to a person familiar. When Unity (U) set the date for Oct. 7, IronSource (IS) adjusted its vote date to be on the same page.

The delayed vote date comes as AppLovin (NASDAQ:APP) last month attempted to break up the ironSource/Unity deal by making a rival offer for Unity, which Unity has since rejected. IronSource (IS) disclosed in an amended S-4 filing last month that Unity (U) had won HSR antitrust approval for the deal and that Israel has also cleared the transaction.

The filing last month also revealed that AppLovin (APP) was the only company that had some discussions with Unity (U) about a possible deal and it revealed that as late as Aug. 21 AppLovin's (APP) advisers were inquiring if Unity (U) may be amenable to a revised takeover bid.

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