PAE Incorporated has announced the completion of its acquisition by an affiliate of Amentum Government Services Holdings LLC for approximately $1.9 billion in cash, including the assumption of debt and certain fees. The merger was previously announced on October 25, 2021, and PAE’s stockholders approved the merger at a special meeting of stockholders held on February 10, 2022.
As a result of the merger, PAE common stock and warrants have ceased trading on, and will be delisted from, the Nasdaq stock exchange. Upon completion of the merger, PAE stockholders became entitled to receive $10.05 in cash, without interest and less applicable withholding taxes, for each share of PAE common stock they own.
As provided in the Form 8-K filed by PAE with the Securities and Exchange Commission on February 15, 2022, upon the closing of the merger, each warrant exercisable for shares of PAE common stock outstanding immediately prior to the closing was adjusted as described in the Notice to Holders of Company Warrants (available as Exhibit 99.3 to such Form 8-K).