Form 4: Semrush Acquired by Adobe for $12.00 Per Share

Semrush Holdings, Inc. has completed its merger with Adobe Inc., resulting in the cancellation of outstanding equity and a cash-out of $12.00 per share.

Summary

• Semrush Holdings, Inc. (SEMR) was acquired by Adobe Inc. via a merger with Fenway Merger Sub, Inc.
• The transaction closed on April 28, 2026.
• Reporting person Brian Mulroy, CFO, disposed of 1,015,576 shares of Class A Common Stock at a price of $12.00 per share.
• Outstanding stock options with an exercise price of $9.26 were cancelled and cashed out based on the $12.00 merger consideration.
• The company is now a wholly owned subsidiary of Adobe Inc.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral event, as it represents the final administrative step of a previously announced acquisition rather than new operational performance data.

Positives

• Shareholders received a definitive cash consideration of $12.00 per share.
• Successful completion of the merger agreement dated November 18, 2025.

Negatives

• The company ceases to be an independent publicly traded entity.
• Equity holders no longer hold a stake in the standalone Semrush business.

Risks

• Integration risks associated with becoming a wholly owned subsidiary of Adobe Inc.
• Potential loss of independent operational focus post-acquisition.

Future Outlook

The company is now a wholly owned subsidiary of Adobe Inc., and future operations will be integrated into the parent company's structure.

Management Comments

• The transaction was executed pursuant to the Agreement and Plan of Merger dated November 18, 2025.

Industry Context

StockSavvy.ai notes that this acquisition represents a significant consolidation in the marketing technology and SEO software space, with Adobe continuing its strategy of acquiring specialized SaaS platforms to bolster its Creative and Experience Clouds.

Comparison to Industry Standards

• The acquisition follows a trend of large-cap software companies (Adobe, Salesforce, HubSpot) absorbing mid-cap SaaS providers to expand market share.
• The $12.00 cash-out price reflects the valuation agreed upon during the November 2025 negotiation period.

Stakeholder Impact

• Shareholders have been cashed out at $12.00 per share.
• Employees and management transition to Adobe Inc. as a subsidiary.

Next Steps

• Delisting of Semrush Holdings, Inc. from public exchanges.
• Integration of Semrush operations into Adobe Inc.

Key Dates

Keywords

Semrush, Adobe, Merger, Acquisition, SEMR, Form 4, CFO