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LONDON - Intrepid Bidco Limited has received valid acceptances for 5.84% of Inspired PLC’s issued share capital as part of its cash offer to acquire the energy consultancy firm, according to an acceptance level update released Monday.
The offer, which was announced on June 26, 2025, is being made by Intrepid Bidco, a company indirectly owned by funds managed by HGGC, LLC and its affiliates.
As of August 1, Bidco had received acceptances for 9,318,116 Inspired shares. The company has also secured acceptances for approximately 99.63% of Inspired Share Options, 33.20% of Inspired Warrants, and 60.00% of Inspired Convertible Loan Notes.
Bidco has received irrevocable undertakings or letters of intent representing approximately 68.06% of Inspired’s issued share capital, conditional on a competing offer from Regent Acquisitions 2025 Limited lapsing on August 8.
On July 29, Regent provided a conditional letter of intent to accept Bidco’s offer in respect of the 29.36% of Inspired shares currently held by the Regent Group, should Regent’s own offer lapse.
Bidco has waived down the acceptance condition threshold to 59.14% of voting rights from the initial 64.03% requirement, taking into account acceptances of dilutive securities.
The offer remains subject to outstanding conditions and is open for acceptances until 1:00 p.m. on September 9, 2025. If the offer becomes unconditional, Bidco will keep it open for at least 14 days following.
The information in this article is based on a press release statement from Intrepid Bidco Limited.
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