Shares in U.K. cybersecurity company Darktrace dipped over 30% on Thursday morning after talks with U.S private equity firm Thoma Bravo fell through.
Shares in U.K cybersecurity company Darktrace UK:DARK dipped over 30% on Thursday morning after talks with U.S. private equity firm Thoma Bravo fell through.
Early London trading saw Darktrace’s stock hit lows of 352.83 pence per share after it said that an agreement with Thoma Bravo “could not be reached on the terms of a firm offer”. The share price drop was well below the troughs of its post-IPO peaks last year, where shares climbed to 358 pence per share, a 43% increase from its IPO pricing of 250 pence.
In its fiscal year to June 30 results, Darktrace swung to a profit of $1.46 million after losing $145.8 million the prior year.
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