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Investing.com -- Couchbase Inc (NASDAQ:BASE) stock surged 29% following the announcement that the company has agreed to be acquired by Haveli Investments in an all-cash transaction valued at approximately $1.5 billion.
Under the terms of the agreement, Couchbase stockholders will receive $24.50 per share in cash, representing a 29% premium to the company’s closing stock price on June 18, 2025, the last full trading day prior to the announcement. The deal also marks a 67% premium to the closing price on March 27, 2025, when Haveli first invested in the company.
The stock is currently trading at $24.46 per share, a 29.3% gain on the day, as of 9:51 ET.
The transaction, which has been approved by Couchbase’s board of directors, is expected to close in the second half of 2025, subject to stockholder approval and regulatory clearances. Upon completion, Couchbase will become a privately held company, and its common stock will no longer be listed on any public market.
"Today’s announcement marks a significant milestone for our stockholders and an exciting new chapter for Couchbase," said Matt Cain, Chair, President and CEO of Couchbase. "Haveli’s investment is a strong affirmation of our market position and our future potential."
The merger agreement includes a "go-shop" period expiring at 11:59 p.m. Eastern time on June 23, 2025, during which Couchbase can solicit and consider alternative acquisition proposals.
Haveli Investments, a technology-focused investment firm, views the acquisition as strategic given the increasing importance of data platforms in AI applications. Morgan Stanley (NYSE:MS) is serving as exclusive financial advisor to Couchbase, while Jefferies is acting as lead financial advisor to Haveli.