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Search resuls for: "Cvent"


9 mentions found


☆ The most shorted stocks on Wall Street include Beyond Meat and this A.I. consumer lender
  + stars: | 2023-05-25 | by ( Alex Harring Nick Wells | Alex Harring | Nick Wells | ) www.cnbc.com   time to read: +2 min
Short interest in Beyond Meat rose almost 30% to about 25 million shares between April 28 and May 15, according to the data. Short interest similarly climbed even more for software firm Cvent , with investors increasing shorts just over 33% to nearly nine million shares. That's almost 40% of the stock's float. Short interest grew almost 10% to nearly 25 million shares, now accounting for 36.5% of float. The table shows all names with short interest accounting for more than 25% of float.
Persons: Terence Malone, Cvent, it's, Reginald Smith Organizations: Barclays, FactSet, JPMorgan, CNBC Pro, New York Stock Exchange, Nasdaq
☆ Analysis: Banking turmoil takes the leveraged out of the buyout
  + stars: | 2023-03-23 | by ( Chibuike Oguh Anirban Sen | Chibuike Oguh | Anirban Sen | ) www.reuters.com   time to read: +5 min
The remainder was equity checks by the private equity firms. Typically, debt accounts for between 60% and 80% of the deal consideration, allowing the buyout firms to juice returns. REFINANCING RISKTo be sure, a handful of private equity firms have already been accustomed to this kind of refinancing risk. An upside to the shift toward equity financing, dealmakers say, is that the companies owned by the private equity firms have more cushion to absorb losses if their business deteriorates. Many of the leveraged buyouts that became bankruptcies in the wake of the 2008 financial crisis were the result of private equity firms saddling companies with debt to the hilt.
☆ Blackstone to acquire Cvent in deal valued at $4.6 bln
  + stars: | 2023-03-14 | by ( ) www.reuters.com   time to read: 1 min
March 14 (Reuters) - Cvent Holding Corp (CVT.O) said on Tuesday buyout firm Blackstone Inc (BX.N) would purchase the U.S. software provider that facilitates in-person and virtual meetings in a deal valued at $4.6 billion. Cvent said its shareholders would receive $8.50 per share, adding that a subsidiary of the Abu Dhabi Investment Authority (ADIA) will be a significant minority investor. The offer price represents a premium of about 29% from Jan. 30, before media reports of a potential deal surfaced. Reuters had previously reported that Cvent was exploring a sale of the company. Reporting by Akash Sriram in Bengaluru; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.
☆ Events software provider Cvent accepts Blackstone's $4.6 bln deal
  + stars: | 2023-03-14 | by ( ) www.reuters.com   time to read: +1 min
A rout in tech stocks last year shrank company valuations, making them enticing targets for private equity suitors. Cvent was valued at $5.3 billion in 2021 when Vista, which had acquired it for $1.65 billion a few years ago, took it public in a merger with a blank-check acquisition company. Blackstone's offer price of $8.50 per share, gives Cvent an equity value of $4.15 billion and represents a premium of about 29% from Jan. 30, a day before media reports of a potential deal surfaced. Cvent on Tuesday posted a loss of $100.3 million in 2022, wider than $86.1 million it reported a year earlier. Blackstone said it has received a $1 billion credit facility as part of the financing for the deal.
☆ Stocks making the biggest moves premarket: First Republic, Western Alliance, Uber, Lyft and more
  + stars: | 2023-03-14 | by ( Sarah Min | ) www.cnbc.com   time to read: +3 min
Check out the companies making headlines before the bell:First Republic Bank — The San Francisco-based bank stock jumped 45% after closing down 61.8% on Monday. First Republic shares rose amid a broader rebound in regional bank stocks. Credit Suisse — The bank stock fell by about 1.6% after Credit Suisse said it had found "material weaknesses" in its financial reporting processes for 2022 and 2021. Honeywell International — Honeywell shares rose 0.4% after the conglomerate announced that Vimal Kapur, president and chief operating officer, will succeed Darius Adamczyk as CEO. Blackstone shares rose 1.8%.
☆ Stocks making the biggest moves midday: BuzzFeed, First Republic, Meta and more
  + stars: | 2023-03-14 | by ( Pia Singh | ) www.cnbc.com   time to read: +3 min
(Photo by Justin Sullivan/Getty Images)BuzzFeed — Share of the internet media company lost about 10% on a weak first-quarter revenue outlook. Buzzfeed expects first-quarter revenue of $61-$67 million, compared to expectations of $83.6 million, according to FactSet. Meta Platforms — Meta shares gained 6% after CEO Mark Zuckerberg said Tuesday the social media company plans to cut 10,000 employees. First Republic , PacWest Bancorp, Western Alliance Bancorp , Comerica — Regional banks rallied sharply Tuesday after being hit hard last Friday and Monday. Shares of San Francisco-based First Republic rose about 50%, while PacWest jumped more than 60% and Western Alliance Bancorp gained more than 40%.
☆ Exclusive: Events software vendor Cvent rebuffs $3.9 bln Blackstone bid-sources
  + stars: | 2023-02-24 | by ( Milana Vinn | ) www.reuters.com   time to read: +2 min
Feb 24 (Reuters) - Cvent Holding Corp (CVT.O), a U.S. software provider that facilitates in-person and virtual meetings, has rejected a $3.9 billion acquisition offer from buyout firm Blackstone Inc (BX.N), people familiar with the matter said on Friday. Blackstone is taking a break from the negotiations after Cvent rejected its $8-per-share offer as too low, the sources said. Shares of Cvent, which is controlled by private equity firm Vista Equity Partners Management LLC, had ended trading on Thursday at $7.64. Cvent, Blackstone and Vista Equity declined to comment. Cvent shares have since dropped due to concerns that an economic slowdown, brought about by the U.S. Federal Reserve's higher interest rates to fight inflation, will lower demand for conferences and events that drive the company's business.
☆ Here are the 34 tech companies most likely to be snapped up by private equity firms like Vista and Thoma Bravo in 2023, according to bankers and market data
  + stars: | 2022-12-24 | by ( Ben Bergman | Stephanie Palazzolo | ) www.businessinsider.com   time to read: +22 min
With a stock price down 45% in the last year, though, it may soon find itself on the other side of the table. But it has $732 million in cash on hand, with zero debt, and analysts are projecting 16% revenue growth. This year, though, Varonis has come back to earth — its stock price has sunk over 57% in the last 12 months. However, with strong projected 2023 revenue growth of 18.6%, Zuora remains a strong target for PE firms. Its stock price has been hammered, going down about 40% this year and making it the subject of mergers-and-acquisitions chatter.
☆ Here are the 34 tech companies most likely to be on the holiday shopping lists of private-equity firms after valuations plunged this year, according to bankers and private data
  + stars: | 2022-12-15 | by ( Ben Bergman | Stephanie Palazzolo | ) www.businessinsider.com   time to read: +22 min
With a stock price down 45% in the last year, though, it may soon find itself on the other side of the table. But it has $732 million in cash on hand, with zero debt, and analysts are projecting 16% revenue growth. This year, though, Varonis has come back to earth — its stock price has sunk over 57% in the last 12 months. However, with strong projected 2023 revenue growth of 18.6%, Zuora remains a strong target for PE firms. Its stock price has been hammered, going down about 40% this year and making it the subject of mergers-and-acquisitions chatter.
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