M&A - Drahi Patrick

Form Type: SCHEDULE 13D

Filing Date: 2025-02-10

Corporate Action: Acquisition

Type: New

Accession Number: 000095017025017297

Filing Summary: On February 3, 2025, Patrick Drahi, through several entities including Altice Teads S.A., announced the completion of an acquisition of Teads, a wholly owned subsidiary of Altice Teads, for $625 million and 43.75 million shares of Outbrain's common stock as part of a Share Purchase Agreement. This transaction significantly impacts Outbrain's ownership structure, as the shares cost was contingent upon customary adjustments. Following the acquisition, two directors from Altice Teads will be appointed to Outbrain's Board of Directors. The Stockholders Agreement indicates Altice Teads can nominate directors based on their ownership percentage, ensuring that they maintain influence over Outbrain’s governance. The Reporting Persons hold the securities for general investment purposes and reserve the right to alter their stake without prior notice, subject to certain agreements and market conditions.