Transom Capital to take SoundThinking private at up to $11 a share

Public safety technology company SoundThinking agreed to be acquired by Transom Capital Group via a tender offer of $8.00 per share in cash plus a contingent value right worth up to $3.00 more, for up to $11.00 per share. The upfront price is a 46% premium to the prior close and implies a $114 million enterprise value, rising to about $159 million if the CVR pays out fully. Holders of roughly 33% of shares have agreed to tender.

Why it matters: The CVR structure shows sponsors bridging valuation gaps on small-cap tech take-privates rather than walking away.