Commerce.com (CMRC) announced that its board of directors has adopted a limited duration stockholder rights plan. The rights plan is effective immediately and is scheduled to expire on April 12, 2027. The board adopted the rights plan in response to the unsolicited acquisition proposal made by Rezolve AI (RZLV) on April 8 under which Rezolve AI proposed to acquire all of the outstanding common shares of Commerce.com by exchanging one Rezolve Ai share for every two shares of Commerce.com, implying a 47% discount to the current Commerce.com share price, based on Rezolve Ai’s closing price of $2.88 on April 7. The board, consistent with its fiduciary duties, carefully reviewed the unsolicited acquisition proposal and determined this proposal significantly undervalues the Company, is not attractive to Commerce.com stockholders, and does not warrant further engagement.
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