Intrepid Bidco’s offer for Inspired declared unconditional

LONDON - Intrepid Bidco Limited, a company indirectly owned by funds managed by HGGC, LLC, announced Friday that its cash offer for Inspired PLC has been declared unconditional after securing sufficient shareholder acceptances.

The company reported it has received valid acceptances representing approximately 63.72% of Inspired’s issued share capital, surpassing the required threshold. The acceptance level includes commitments for about 60.29% of shares that were subject to irrevocable commitments and letters of intent previously secured by Bidco.

Bidco also received acceptances for 100% of Inspired Share Options, approximately 72.88% of Inspired Warrants, and 100% of Inspired Convertible Loan Notes.

The acquisition was first announced on June 26, 2025, when the boards of both companies reached agreement on the terms of the recommended cash offer. The offer document was subsequently published to Inspired shareholders on July 11.

With the offer now unconditional, Bidco has established significant control over Inspired and is positioned to determine the company’s overall strategy. The bidder can now ensure approval or rejection of ordinary resolutions at Inspired.

The offer will remain open for acceptance until further notice, with Bidco committed to providing at least 14 calendar days’ notice before closing the offer for acceptances.

Inspired shareholders who have not yet accepted the offer can still do so by following the procedures outlined in the offer document, either by completing and returning the Form of Acceptance for certificated shares or by making electronic acceptances through CREST for uncertificated shares.

This article is based on a press release statement from Intrepid Bidco Limited.

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