Form 4: Logility Supply Chain Solutions CEO Allan Dow Reports Disposition of Shares and Stock Options Following Merger with Aptean, Inc.

CEO Allan Dow reports the disposition of common stock and stock options due to the merger between Logility Supply Chain Solutions and Aptean, Inc., where Logility became a wholly-owned subsidiary of Aptean.

Summary

• On April 4, 2025, Logility Supply Chain Solutions, Inc. merged with Update Merger Sub, Inc., a subsidiary of Aptean, Inc., with Logility surviving as a wholly-owned subsidiary of Aptean.
• As a result of the merger, each share of Logility's common stock was converted into the right to receive $14.30 in cash.
• Outstanding company restricted stock units were cancelled and converted into the right to receive $14.30 in cash.
• Stock options with an exercise price equal to or greater than $14.30 were cancelled for no consideration.
• Stock options with an exercise price less than $14.30 were cancelled and converted into the right to receive cash equal to the difference between $14.30 and the exercise price, multiplied by the number of shares subject to the option.

Sentiment

Score: 7

Explanation: The sentiment is neutral to positive. The merger provides a clear outcome for shareholders, with a defined cash value for their shares. The cancellation of some stock options is a negative for those holding them, but overall, the announcement reflects a completed transaction with defined terms.

Positives

• Shareholders received $14.30 in cash for each share of common stock as a result of the merger.

Negatives

• Stock options with an exercise price at or above $14.30 were cancelled with no compensation.

Future Outlook

The document does not contain any specific forward-looking statements beyond the completion of the merger.

Industry Context

This announcement reflects ongoing consolidation trends within the supply chain solutions industry, where larger companies like Aptean are acquiring specialized firms like Logility to expand their offerings and market reach.

Comparison to Industry Standards

• The acquisition of Logility by Aptean is similar to other acquisitions in the software industry, such as Vista Equity Partners' acquisition of Mindbody, where a private equity firm acquires a publicly traded software company.
• The $14.30 per share cash consideration is a standard practice in mergers and acquisitions, aiming to provide shareholders with immediate value for their investment.

Stakeholder Impact

• Shareholders received $14.30 per share in cash.
• Employees of Logility now work for a wholly-owned subsidiary of Aptean, Inc.
• Holders of stock options with an exercise price at or above $14.30 received no compensation.

Key Dates

Keywords

merger, Logility Supply Chain Solutions, Aptean, Allan Dow, stock options, common stock, acquisition