SCHEDULE: ABRY Partners Backs KORE Group Holdings Merger

ABRY Partners and its affiliates have filed a Schedule 13D, formally committing their support and shares to the proposed acquisition of KORE Group Holdings, Inc. by KONA Parent, L.P.

Summary

• ABRY Partners and its affiliates (the "Reporting Persons") have filed a Schedule 13D in connection with the proposed acquisition of KORE Group Holdings, Inc. by KONA Parent, L.P. (Parent).
• The acquisition is structured as a merger (the "Merger") involving KONA Merger Sub Co., a wholly-owned subsidiary of Parent.
• The Merger Agreement was dated February 26, 2026, and the transaction is financed by Searchlight Capital IV, L.P. and certain affiliates of Searchlight Capital Partners, L.P. ("Searchlight").
• The Reporting Persons have entered into a Joint Bidding and Cost Sharing Agreement with Searchlight Capital Partners, L.P. to govern their actions regarding the merger.
• ABRY Partners VII, L.P. and ABRY Partners VII Co-Investment Fund, L.P. have signed Voting, Support and Rollover Agreements, committing to vote their shares in favor of the merger and contribute them to Parent immediately prior to the Effective Time.
• Other ABRY entities, including ABRY Investment Partnership, L.P., ABRY Senior Equity IV, L.P., and ABRY Senior Equity Co-Investment Fund IV, L.P., have signed Voting and Support Agreements, agreeing to vote their shares for the merger.
• The ABRY group collectively beneficially owns 4,850,587 shares of KORE Group Holdings, Inc. common stock, representing 27.65% of the outstanding shares as of November 10, 2025.
• The percentage of class is calculated based on 17,539,937 shares outstanding, which reflects a 1-for-5 reverse stock split effected by the Issuer on July 1, 2024.

Sentiment

Score: 7

Explanation: StockSavvy.ai views this filing as moderately positive for the merger's certainty, as a major shareholder group has formally committed its support and shares to the transaction, significantly increasing the likelihood of its successful completion.

Positives

• A significant shareholder group (ABRY) has formally committed its shares and support to the proposed merger, increasing the certainty of the transaction's completion.
• The rollover agreement by certain ABRY funds indicates continued investment and confidence in the combined entity post-merger.

Future Outlook

The filing outlines the definitive steps taken by a significant shareholder group to support the proposed merger of KORE Group Holdings, Inc. with KONA Parent, L.P., indicating the transaction is moving towards completion.

Industry Context

StockSavvy.ai notes that this filing reflects a common trend in the technology and communications sectors where private equity firms like ABRY and Searchlight acquire publicly traded companies, often to drive strategic changes or consolidate market positions away from public market scrutiny. Such transactions typically aim to unlock value through operational improvements or integration with existing portfolio companies.

Stakeholder Impact

• Shareholders: Those not participating in the rollover will receive consideration from the merger. Shareholders within the ABRY group are committing to support and, in some cases, roll over their equity into the new private entity.
• Employees: The filing does not directly address employee impact, though mergers often lead to organizational restructuring.
• Customers/Suppliers: The filing does not directly address customer or supplier impact, but a change in ownership could influence future business relationships.

Next Steps

• Completion of the merger transaction between KORE Group Holdings, Inc. and KONA Parent, L.P.
• Contribution of ABRY's shares to Parent immediately prior to the Effective Time of the merger by certain ABRY funds.

Key Dates

Recommendation

The filing confirms a significant shareholder's commitment to a pending merger, which typically stabilizes the stock price around the announced acquisition price. This reduces significant upside potential beyond the merger price but also mitigates downside risk related to the merger's completion. Investors should hold if they believe the merger will close at the agreed-upon terms.

Keywords

KORE Group Holdings, ABRY Partners, Merger Agreement, KONA Parent, Searchlight Capital, Schedule 13D, Acquisition, Voting Agreement, Rollover Agreement, Private Equity