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GlobalOptions and LocatePlus to Merge
NEW YORK -- GlobalOptions Group, a provider of domestic and international risk management services, and LocatePlus Holdings, a pioneer in proprietary investigative search tools and database applications, have signed a definitive agreement to merge, with LocatePlus becoming a wholly owned subsidiary of GlobalOptions.
Under the terms of the transaction, LocatePlus common stockholders will exchange each LocatePlus share for 0.916 common shares of GlobalOptions. This exchange ratio is subject to a “collar” adjustment at the time of closing -- higher or lower depending on movement in the average closing price of GlobalOptions common shares in the interim period.
Based on the $2.05 GlobalOptions median share price, the total equity consideration has a current value of $14,356,911. GlobalOptions will also assume certain outstanding LocatePlus warrants, which will add to the overall value of the consideration. The merger is subject to stockholder approval of both companies and is expected to be completed by the first quarter of 2007.
The merger marks the first transaction in GlobalOptions’ second phase of development – adding technologies and resources that enhance and expand its existing operations, particularly within the areas of investigative services and emergency preparedness. Once integrated into GlobalOptions, LocatePlus will support the company’s current suite of services by providing access to critical information that can be utilized for investigations, background checks, emergency preparedness, and security screenings. LocatePlus will also enable GlobalOptions to extend its reach into the market for third-party investigative services.
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