LogMeIn plans new debt financing for buyout by Francisco and Elliott

By Sara Rosenberg

New York, Dec. 17 – LogMeIn Inc. has received a commitment for new debt financing to help fund its acquisition by Francisco Partners and Elliott Management Corp., according to an 8-K filed with the Securities and Exchange Commission on Tuesday.

Barclays, RBC Capital Markets, Deutsche Bank Securities Inc., Mizuho Bank Ltd. and Jefferies LLC provided the debt commitment.

Other funds for the transaction will come from equity.

LogMeIn is being bought for $86.05 per share in cash. The aggregate equity valuation is about $4.3 billion.

Closing is expected in mid-2020, subject to customary conditions, including the receipt of stockholder and regulatory approvals.

There is a 45-day “go-shop” period.

LogMeIn is a Boston-based provider of cloud-based connectivity.

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