Key facts
- Two independent proxy advisory firms, including ISS, recommended shareholders vote FOR the proposed arrangement.
- The arrangement is with Apollo Purchaser, controlled by Francisco Partners Management, L.P.
- Shareholders will receive $9.00 in cash per share plus a contingent value right (CVR) per share.
- The CVR entitles holders to a potential cash payment of up to $0.50 per CVR if a certain annualized recurring revenue target is met in fiscal 2027.
- The special meeting of shareholders to approve the transaction is scheduled for June 15, 2026.
Blackline Safety Corp. announced that two independent proxy advisory firms, including Institutional Shareholder Services (ISS), have recommended that its shareholders vote in favor of a proposed plan of arrangement with Apollo Purchaser, Inc. This entity is controlled by Francisco Partners Management, L.P. The transaction is scheduled for a shareholder vote at a special meeting on June 15, 2026. Under the terms of the arrangement, Blackline Safety shareholders will receive $9.00 in cash for each share they own. Additionally, they will receive one contingent value right (CVR) per share. This CVR offers the potential for an additional cash payment of up to $0.50 per CVR, contingent upon the company achieving a specific annualized recurring revenue target in fiscal year 2027. The company is a global leader in connected safety technology.