BALA CYNWYD, Pa., May 02, 2022 (GLOBE NEWSWIRE) -- Brodsky & Smith reminds investors of the following investigations. If you own shares and wish to discuss the investigation, contact Jason Brodsky (jbrodsky@brodskysmith.com) or Marc Ackerman (mackerman@brodskysmith.com) at 855-576-4847. There is no cost or financial obligation to you.
GTY Technology Holdings Inc. (Nasdaq – GTYH)
Under the terms of the agreement, GTY will be acquired by GI Partners (“GI”). Under the terms of the merger agreement, GTY shareholders will receive $6.30 per share for each share of GTY stock they own. The investigation concerns whether the GTY Board breached its fiduciary duties to shareholders by failing to conduct a fair process, and whether GI is paying too little for the Company.
Additional information can be found at https://www.brodskysmith.com/cases/gty-technology-holdings-inc-nasdaq-gtyh/.
PS Business Parks Inc. (NYSE - PSB)
Under the terms of the agreement, PSB will be acquired by affiliates of Blackstone Real Estate (“Blackstone”). PSB stockholders will receive $187.50 in cash per share. The investigation concerns whether the PSB Board breached its fiduciary duties to shareholders by failing to conduct a fair process, and whether Blackstone is paying too little for the Company.
Additional information can be found at https://www.brodskysmith.com/cases/ps-business-parks-inc-nyse-psb/.
Blueknight Energy Partners, L.P. (Nasdaq - BKEP)
Under the terms of the agreement, Blueknight will be acquired by an affiliate of Ergon, Inc. (“Ergon”). Ergon will acquire all outstanding common and preferred units of the Company not already owned by Ergon and its affiliates. Each holder of common units will receive $4.65 in cash per common unit, and each holder of the preferred units will receive $8.75 in cash per preferred unit. The investigation concerns whether the Blueknight Board breached its fiduciary duties to unitholders by failing to conduct a fair process, and whether Ergon is paying too little for the Company.
Additional information can be found at https://www.brodskysmith.com/cases/blueknight-energy-partners-l-p-nasdaq-bkep/.
Ignyte Acquisition Corp. (Nasdaq - IGNY)
Under the terms of the agreement, Ignyte, a special purpose acquisition company, will combine with Peak Bio Co., Ltd. (“Peak Bio”), a clinical-stage biopharmaceutical company focused on developing the next-generation of therapeutics to treat oncology and inflammatory diseases, and result in Peak Bio becoming a publicly-listed company. Under the terms of the agreement, Ignyte shareholders will retain ownership of only 22% of the combined company. The investigation concerns whether the Ignyte Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including the dilution of ownership interest in the combined company.
Additional information can be found at https://www.brodskysmith.com/cases/ignyte-acquisition-corp-nasdaq-igny/.
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