SeaChange Announces Amended Purchase Agreement with Partner One and Increased Purchase Price as Go-Shop Period Ends.

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BOSTON, April 10, 2024 (GLOBE NEWSWIRE) -- SeaChange International, Inc.(OTC: SEAC) ("SeaChange” or the "Company”), a leading provider of video delivery, advertising, streaming platforms, and emerging Free Ad-Supported Streaming TV services (FAST) development, has entered into an omnibus amendment (such amendment, the "Amendment to the Purchase Agreements”) to the previously announced asset purchase agreement and software purchase agreement (the "Original Purchase Agreements”) with affiliates of Partner One, one of the fastest-growing software conglomerates in the world, in response to an acquisition proposal from a third party that the Company received during its go-shop period, which expired on April 8, 2024.

In general, forward-looking statements usually may be identified through use of words such as "may,” "believe,” "expect,” "anticipate,” "intend,” "will,” "should,” "plan,” "estimate,” "predict,” "continue”, and "potential,” or the negative of these terms, or other comparable terminology, and include statements related the amount of net proceeds SeaChange receives from the transaction, the ability and timing to close the Amended Asset Sale and the timing of the posting of the Proxy Supplement on the Company’s corporate website and Forward-looking statements are not historical facts and represent management’s beliefs, based upon information available at the time the statements are made, with regard to the matters addressed; they are not guarantees of future performance.

Due to the Amendment to the Purchase Agreements related to the Amended Asset Sale, SeaChange intends to post a proxy supplement (the "Proxy Supplement”) on SeaChange’s corporate website ( ) and on or about April 11, 2024 supplementing the Proxy Statement regarding certain material details of the Amended Asset Sale that differ from the Previously Announced Asset Sale.

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Author / Journalist: SeaChange International, Inc.

Category: Technology

Markets: China

Topics: US8116991071 Other OTC:SEAC

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-04-10 @ 21:30:00 (2 weeks ago)

News Timezone: GMT +8:00

News Source URL: globenewswire.com

Language: English

Article Length: 1000 words

Reading Time: 6 minutes read

Sentences: 30 lines

Sentence Length: 34 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © GlobeNewswire

News ID: 20661448

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