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TheStreet Agrees to Approximately $34 Million Takeover Deal

TheStreet Staff

"This is a good outcome for TheStreet's shareholders," Eric Lundberg, TheStreet's chief executive officer and chief financial officer, said in announcing the deal. Under terms of the agreement, investors will receive cash from Maven, and also a special distribution equal to the cash held by TheStreet immediately prior to the deal's closing (less any excluded liabilities agreed to between the parties). Additionally, stockholders will receive a special "contingent value right," or "CVR." This will entitle them to a pro-rata portion of funds held in escrow from TheStreet's previous sale of its RateWatch and BoardEx/TheDeal businesses.