Monomoy Capital Partners To Acquire Cobra Electronics - Quick Facts

(RTTNews) - Cobra Electronics Corp. (COBR) and Monomoy Capital Partners II, L.P, a New York private equity fund focused on value investing and business improvement, announced that Cobra Electronics and entities affiliated with Monomoy have executed a definitive merger agreement pursuant to which an affiliate of Monomoy will acquire all of the outstanding shares of common stock of Cobra Electronics at $4.30 per share in cash. An affiliate of Monomoy will commence a tender offer to purchase all outstanding shares of common stock of Cobra Electronics at a price of $4.30 per share in cash within ten business days.

The offer is conditioned on, among other things, the tender of a majority of the outstanding shares of Cobra Electronics' common stock. The merger agreement provides that, promptly after the closing of the tender offer, any shares not tendered in the tender offer will be acquired in a second-step merger at the same cash price.

Monomoy Capital Partners is a private equity firm with $700 million in committed capital that makes controlling investment in middle market businesses in the manufacturing, distribution, consumer product and foodservice sectors.