Monitor regulatory approvals under HSR Act and UK NSIA, as the offer is conditioned on these clearances. The 25-business-day initial tender period and the 40.3% committed tender suggest high probability of closing, but any regulatory delay or competing bid could alter the timeline or price.
Price Chart
Executive Summary
Ultralife Corporation's board unanimously recommends that stockholders accept EnerSys's $16.00 per share all-cash tender offer, representing a 166% premium to the unaffected closing price. The board received a fairness opinion from StoneX Financial Inc. and stockholders representing approximately 40.3% of shares have already agreed to tender. The transaction is expected to close in Q1 2027, subject to regulatory approvals and a majority-of-shares tender condition.
Key Financial Metrics
Key Facts
- Ultralife board unanimously recommends acceptance of EnerSys tender offer at $16.00 per share in cash
- Offer represents a 166% premium over the $6.01 closing price on October 26, 2026
- Stockholders representing ~40.3% of shares have agreed to tender via a support agreement
- StoneX Financial Inc. provided a fairness opinion that the consideration is fair from a financial point of view
- Enterprise value of approximately $320 million
- Offer is not subject to a financing condition
- Transaction expected to close in Q1 2027
- Company Termination Fee of $10,300,000
- Reverse Termination Fee of $10,300,000 payable by Parent in specified antitrust-related circumstances
- No competing bids or go-shop provisions identified in the filing
Financial Impact
All-cash consideration of $16.00 per share, representing a 166% premium to the unaffected closing price of $6.01, with an enterprise value of approximately $320 million
Risk Factors
- Regulatory approvals under HSR Act and UK NSIA may not be obtained on a timely basis or at all
- The offer is subject to a minimum tender condition of more than 50% of outstanding shares
- No-shop restrictions may limit alternative proposals, though the board can respond to unsolicited Superior Proposals
- Stockholder litigation could result in costs or delays
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| SC 14D-9 Filing (Primary) | 0001437749-26-033810 |
| Exhibit: ex_1033242.htm | 0001437749-26-033810 |
| Exhibit: ex_1032975.htm | 0001437749-26-033810 |
| Document: 0001437749-26-033810-index-headers.html | 0001437749-26-033810 |
| Document: 0001437749-26-033810-index.html | 0001437749-26-033810 |
| Document: 0001437749-26-033810.txt | 0001437749-26-033810 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 29, 2026 today | SC 13D/A | $15.62 | awaiting T+1 | awaiting T+1 | $15.61 (−0.06%) |
Oct 28, 2026 1d ago | SC 14D-9 | $15.65 | awaiting T+1 | awaiting T+1 | $15.61 (−0.26%) |
Oct 28, 2026 1d ago | 8-K | $15.61 $15.62 | ▲ +0.06% | ▲ +0.45% | $15.61 (−0.00%) |
Oct 28, 2026 1d ago | SC TO-T | $15.61 $15.62 | ▲ +0.06% | ▲ +0.45% | $15.61 (−0.00%) |
Oct 27, 2026 2d ago | SC TO-C | $15.61 $15.62 | ▲ +0.06% | ▲ +0.45% | $15.61 (−0.00%) |
Oct 27, 2026 2d ago | Press Release | $15.61 $15.62 | ▲ +0.06% | ▲ +0.45% | $15.61 (−0.00%) |
Aug 7, 2026 11w ago | 8-K | $6.94 $7.16 | ▲ +3.17% | ▲ +3.49% | $15.61 (+124.93%) |
Jul 30, 2026 13w ago | Press Release | $5.16 $5.19 | ▲ +0.58% | ▼ −0.12% | $15.61 (+202.52%) |
Jun 2, 2026 21w ago | DEFA14A | $7.11 $6.91 | ▼ −2.81% | ▼ −2.12% | $15.61 (+119.55%) |
May 8, 2026 24w ago | 8-K | No price | awaiting T+1 | awaiting T+1 | No price |
US Market Status
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