Acorn Agrees To Be Taken Private For $21.00/shr In Cash

(RTTNews) - Acorn International Inc. (ATV) said Monday that it agreed to be taken private by First Ostia Port for $21.00 per share in cash.

The purchase represents a premium of approximately 39.4% over the company's closing price of US$15.07 per ADS on October 9, 2020.

Acorn's board has approved the merger agreement.

The Merger is currently expected to close during the last quarter of 2020. If the Merger is completed, the company will continue its operations as a privately held company and the company will no longer be listed on the NYSE, Acorn said in a statement.