Points.com, Inc. (NASDAQ: PCOM) (TSX: PTS) is engaged as a leading loyalty rewards program partner, which uses its innovative Loyalty Commerce Platform to help its clients with building and powering its reward programs. Shares of the loyalty rewards company are surging 44% on its U.S. listing. Over the past three months, Points.com has seen average daily volume of around 6,910 shares. However, volume of 1.4 million shares or dollar volume of around $34.27 million, has already exchanged hands through early trading.
Shares of Points.com are gaining after the company announced it has entered into an arrangement agreement to be acquired by Plusgrade Parent LP, an ancillary revenue platform for the global travel industry. Under the terms of the agreement, Plusgrade will acquire all issued and outstanding common shares of Points.com stock for $25.00 (C$32.21) per share in cash. This gives the transaction an approximate value of $385 million.
The acquisition proposal now must be approved by shareholders and the Ontario Superior Court of Justice in order to be finalized. If approved, Points.com would become a private company under the Plusgrade umbrella.
“We are thrilled to be joining forces with Plusgrade in what will become a truly global leader and provider of value-adding and revenue-generating services for partners in the airline, hospitality, rail and financial services industries,” said Rob MacLean, Chief Executive Officer of Points. “Additionally, we have benefitted from a supportive group of shareholders over the past number of years and are pleased to have created this compelling outcome.”
Disclosure: No position. Spotlight Growth has no relationships with any of the companies mentioned in this article and did not receive payment in any form for its creation. This is an opinion article and is not meant to be financial advise. We are not broker-dealers or investment professionals. Please conduct your own due diligence. For more information on our disclosures, please visit: https://spotlightgrowth.com/disclosures/
