LaunchEquity Completes Acquisition of MakeMusic, Inc.
MINNEAPOLIS--(BUSINESS WIRE)-- LaunchEquity Acquisition Partners, LLC Designated Series Education Partners ("LEAP"), a sponsored entity of LaunchEquity Partners, LLC, today announced the successful completion of its previously announced acquisition of MakeMusic, Inc. (NAS: MMUS) ("MakeMusic") for $4.85 per share.
LEAP acquired MakeMusic through a tender offer and short-form merger, both of which were completed today. In the merger, each outstanding share of common stock of MakeMusic, other than shares held by LEAP and its affiliates and shares as to which dissenter's rights are perfected in accordance with applicable law, was canceled and converted into the right to receive the same $4.85 per share cash price, without interest, that was paid in the tender offer.
As a result of the completion of the merger, MakeMusic has become a wholly-owned subsidiary of LEAP and the common stock of MakeMusic ceased trading on the NASDAQ Capital Market at the close of trading today. MakeMusic will make necessary filings with the Securities and Exchange Commission to end its reporting obligations under the Securities Exchange Act of 1934, as amended.
About MakeMusic, Inc.
MakeMusic®, Inc. is a world leader in music technology whose mission is to develop and market solutions that transform how music is composed, taught, learned and performed. For more than 20 years, Finale® has been the industry standard in music notation software, enabling composers, arrangers, musicians, teachers, students and publishers to create, edit, audition, print and publish musical scores. MakeMusic is also the creator of SmartMusic® interactive software that is transforming the way students practice. With SmartMusic, students and teachers have access to thousands of band, orchestra and vocal pieces allowing students to practice with background accompaniment and get immediate feedback on their performance. SmartMusic allows teachers to individualize instruction and document the progress of every student. The SmartMusic Inbox™, an Android™ and Apple® mobile application, provides additional access for teachers to review, grade and comment on student assignments. MusicXML™ is an Internet-friendly way to publish musical scores, enabling musicians to distribute interactive sheet music online and to use sheet music files with a wide variety of musical applications. Garritan™ sound libraries provide musicians with state-of-the-art virtual instruments with the playback quality of a live performance. Additional information about this Minnesota company can be found at www.makemusic.com.
LaunchEquity Partners, LLC is an investment entity that provides growth capital and strategic leadership to intellectual-property based businesses.
This press release may contain forward-looking statements that are not historical facts and are subject to risks and uncertainties that could cause actual results to differ materially from those described. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. All forward-looking statements are based largely on current expectations and beliefs concerning future events, approvals and transactions that are subject to substantial risks and uncertainties. A further list and description of additional business risks, uncertainties and other factors can be found in MakeMusic's Annual Report on Form 10-K for the fiscal year ended December 31, 2012, as well as other MakeMusic SEC filings. Copies of these filings, as well as subsequent filings, are available online atwww.sec.govandwww.makemusic.com. The forward-looking statements made in this communication are made only as of the date of this communication, and MakeMusic undertakes no obligation to update them to reflect subsequent events or circumstances.
IMPORTANT NOTICE: This press release is for informational purposes only and is neither an offer to buy nor the solicitation of an offer to sell any shares or other securities nor a solicitation of tenders with respect to the Offer. The Offer described herein will not be made in any jurisdiction in which, or to or from any person to or from whom, it is unlawful to make such offer or solicitation under applicable state or foreign securities or "blue sky" laws.
KEYWORDS: United States North America Minnesota
The article LaunchEquity Completes Acquisition of MakeMusic, Inc. originally appeared on Fool.com.
Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.