Monomoy will acquire all of the outstanding shares of common stock of Cobra at $4.30 per share in cash. As of Thursday, the total value of these shares is over $1 million.
“This transaction will deliver to Cobra Electronics’ shareholders certainty of value,” said Jim Bazet, chairman and CEO of Cobra Electronics. “We are excited to work with Monomoy as this transaction marks the next stage in the evolution of the Cobra brand.”
“We are thrilled to add Cobra’s market leading products to the Monomoy portfolio,” said Justin Hillenbrand, Co-CEO of Monomoy. “We look forward to working with Cobra’s team members, suppliers and customers for many years to come.”