Geeknet To Be Acquired By Hot Topic For $17.50/Shr - Quick Facts

(RTTNews) - Geeknet, Inc. (GKNT), the parent company of online retailers ThinkGeek and ThinkGeek Solutions, Tuesday said it would be acquired by Hot Topic, Inc., a mall and web-based specialty retailer and a portfolio company of private equity firm Sycamore Partners, for $17.50 per share.

The acquisition, which has a total equity value of about $122 million, will be completed by means of a tender offer to be commenced shortly.

Following the agreement, the tender offer will begin no later than June 19, 2015. Consummation of the tender offer is subject to certain customary conditions. Shareholders representing about 21 percent of Geeknet outstanding shares have committed to participate in the tender offer.