Ivanti, Inc. entered into letter of intent to acquire MobileIron, Inc. (NasdaqGS:MOBL) from White Hat Capital Partners LP and others for approximately $930 million on September 20, 2020. Ivanti, Inc. entered into an agreement to acquire MobileIron, Inc. (NasdaqGS:MOBL) from White Hat Capital Partners LP and others for approximately $930 million on September 26, 2020. Under the terms of the transaction, Ivanti will acquire all outstanding shares of MobileIron common stock and MobileIron stockholders will receive $7.05 in cash per share. Each outstanding vested restricted stock unit (“RSU”), performance stock unit (“PSU”) and option granted by MobileIron shall be cancelled and converted into the right to receive cash equal to (A) the aggregate number of shares of MobileIron's common stock subject to such RSU, PSU or option, as applicable, multiplied by (B) the per share merger consideration (less the exercise price in the case of vested options). In a related transaction, Ivanti, Inc. signed definitive agreement to acquire Pulse Secure LLC. Ivanti, Inc. has received equity in an aggregate amount of up to $100 million and debt financing commitments and the proceeds of which will provide for funds to consummate the transaction. Morgan Stanley Senior Funding, Inc., BofA Securities, UBS Investment Bank, and BMO Capital Markets are providing debt financing for the acquisitions in the aggregate principal amount of up to $1.995 billion. Upon completion of the transaction, MobileIron will become a wholly owned subsidiary of Ivanti, Inc. In the event the merger agreement is terminated, MobileIron will be required to pay Ivanti, Inc. a termination fee of $30.5 million and Ivanti, Inc. will pay MobileIron $65.3 million. Upon completion of the transaction, the combined company will be led by Ivanti Chairman and Chief Executive Officer Jim Schaper. The transaction is subject to approval by MobileIron stockholders, the expiration or termination of the waiting period under Antitrust Laws and the satisfaction of regulatory and customary closing conditions. MobileIron's Board of Directors unanimously approved the transaction. The consummation of the transaction is not subject to a financing condition. As of October 19, 2020, White Hat Capital Partners LP announced that it plans to vote against Ivanti Inc.’s proposed acquisition of MobileIron at MobileIron’s upcoming special meeting of stockholders and views that the proposed price of $7.05 per share falls short of fair value by a number of measures. The Board of MobileIron unanimously recommends the shareholders to vote in favor of the transaction. As of November 2, 2020, the HSR Waiting Period expired. As on November 24, 2020, the transaction was approved by shareholders of MobileIron, Inc. The closing of the transaction is expected late in the fourth quarter of 2020. As of October 28, the transaction is expected to close later in the current quarter or early in the first quarter of 2021. UBS Investment Bank, BofA Securities, Inc., Morgan Stanley & Co. LLC and BMO Capital Markets Corp. acted as financial advisors while Mehdi Khodadad, Nicolai Schwarz-Gondek, Eric Kauffman, Rachel Kleinberg, Stacy Crosnicker, Ken Daly, Karen Kazmerzak, Elizabeth Chen, Mike Bettinger and Sven De Knop of Sidley Austin LLP acted as legal advisors to Ivanti, Inc. Barclays Capital Inc. acted as financial advisor and will receive advisory fees of $0.5 million while Brandon C. Parris, Michael O’Bryan, Alexa Belonick, Michael Krigbaum, Dario Avram, Eric Min, Amanda Hines Gold, Michael Miller, Aniek Schadd, Scott Lesmes, Erik Olson, Paul Jahn, Joy MacIntyre and Jenn Williams of Morrison & Foerster LLP acted as legal advisors to MobileIron. Barclays Capital Inc. also provided the written opinion to MobileIron's Board for which it will receive fee of $13.3 million. Kirkland & Ellis LLP provided legal counsel for the financing for Ivanti. D.F. King & Co., Inc. acted as proxy solicitor to MobileIron and will receive $15000. American Stock Transfer & Trust Company, LLC acted as transfer agent to MobileIron. Ivanti, Inc. completed the acquisition of MobileIron, Inc. (NasdaqGS:MOBL) from White Hat Capital Partners LP and others on December 1, 2020.