India, March 22 -- Spark Networks SE's (LOV) shares gained around 9 percent in the extended trading on Thursday after the dating company announced a definitive agreement to acquire dating app Zoosk, Inc.
Under the deal terms, Spark will buy Zoosk's shares with a combination of cash and stock valuing the company at approximately $255 million.
Spark will issue 12.98 million American Depository Shares valued at approximately $150 million based on the closing price of Spark Networks SE stock of $11.53 on March 20, 2019. Additionally, Zoosk shareholders will receive net cash consideration of $95 million at closing and $10 million via a deferred cash payment in December 2020, which will be funded through a new $120 million senior secured debt f...