Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>Adobe rival <strong><a href="https://www.smartkarma.com/entities/nitro-software-ltd" target="_blank" data-smartkarma-citation="entities:30943:1" rel="noopener">Nitro Software Ltd (NTO AU)</a></strong> has rejected a A$1.58/share cash Offer from Potentia Capital. </li>
<li>Nitro considers the proposal to be highly opportunistic and comes at a time of significant share market volatility and cyclical weakness in global technology company valuations.</li>
<li>Separately, Potentia has acquired a 17% interest in Nitro. They are not done yet.</li>
</ul>


Adobe rival Nitro Software Ltd (NTO AU) has rejected a A$1.58/share cash Offer from Potentia Capital. 
Nitro considers the proposal to be highly opportunistic and comes at a time of significant share market volatility and cyclical weakness in global technology company valuations.
Separately, Potentia has acquired a 17% interest in Nitro. They are not done yet.


Nitro Software Rejects Potentia's Proposal

IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

<ul>
<li>
<a href="https://www.smartkarma.com/entities/nitro-software-ltd" target="_blank" data-smartkarma-citation="entities:30943:1" rel="noopener">Nitro Software Ltd (NTO AU)</a> entered a trading halt in response to an AFR report that Potentia has lobbed an indicative non-binding proposal at A$1.58 per share.</li>
<li>Potentia’s offer follows its success in securing a 17% stake at A$1.58 per share on Monday night. The stake is large enough to deter rival schemes. </li>
<li>The offer is opportunistic and unattractive. However, the ability of Potentia to relatively quickly secure a significant stake suggests that the Board will be under pressure to engage.</li>
</ul>



Nitro Software Ltd (NTO AU) entered a trading halt in response to an AFR report that Potentia has lobbed an indicative non-binding proposal at A$1.58 per share.
Potentia’s offer follows its success in securing a 17% stake at A$1.58 per share on Monday night. The stake is large enough to deter rival schemes. 
The offer is opportunistic and unattractive. However, the ability of Potentia to relatively quickly secure a significant stake suggests that the Board will be under pressure to engage.


Nitro’s Opportunistic A$1.58 Offer from Potentia

United States

Nitro Software Limited is a global document productivity software company.The Company offers integrated PDF productivity, eSignature and business intelligence (BI) tools through a horizontal, SaaS and desktop-based software suite. Nitro Software serves customers worldwide.

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Nitro Software Ltd (NTO AU)

Nitro Software Rejects Potentia's Proposal

This proposal is Potentia's opening salvo. Nitro flagged the median broker target price of A$1.95 and the 12-month VWAP price of A$1.93. Expect...

David Blennerhassett

Nitro’s Opportunistic A$1.58 Offer from Potentia

AFR reports Potentia has lobbed a bid at A$1.58. While the offer is unattractive, the ability of Potentia to secure a significant stake suggests...

Arun George

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