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NEW YORK, Dec. 14, 2020 /PRNewswire/ WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of ZAGG Inc ( ZAGG or the Company ) (NASDAQ: ZAGG) in connection with the proposed acquisition of the Company by a buyer group led by Evercel, Inc. Under the terms of the acquisition agreement, the Company s shareholders will only receive $4.20 per share in cash for each share of ZAGG common stock that they hold. Additionally, ZAGG shareholders will be entitled to receive a contingent amount of up to $0.25 per share, to be paid if the Company s Paycheck Protection Program Loan is forgiven and any audit related thereto is satisfactorily completed.
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SALT LAKE CITY, Dec. 11, 2020 (GLOBE NEWSWIRE) ZAGG Inc (NASDAQ:ZAGG) ( we, us, our, ZAGG, or the Company ), a leading global mobile lifestyle company, and a buyer group (the Buyer Group ) led by Evercel, Inc. ( Evercel ), today announced that they have entered into a definitive agreement pursuant to which the Buyer Group will acquire all of the issued and outstanding common stock of the Company for up to $4.45 per share in cash. Stockholders will receive $4.20 per share in cash upon closing and will be entitled to receive an additional contingent amount of up to $0.25 per share, to be paid if the Company s Paycheck Protection Program Loan (the PPP Loan ) is forgiven and any audit related thereto is satisfactorily completed. The transaction is expected to close in the first quarter of 2021. The terms of the agreement, which has been unanimously approved by the Company s Board of Directors, will be submitted for approval of the Company s stockholders.