Olo reports FTC grants early termination of HSR Waiting Period for deal

In a regulatory filing, Olo (OLO) noted that as previously disclosed, on July 3, the company entered into an Agreement and Plan of Merger with Project Hospitality Parent, a Delaware limited liability company, and Project Hospitality Merger Sub, Inc., a Delaware corporation and a wholly-owned subsidiary of Parent, pursuant to which Merger Sub will merge with and into the company, with the company surviving the merger as a wholly-owned subsidiary of Parent. The completion of the merger is conditioned upon, among other things, the expiration or termination of the required waiting period applicable to the consummation of the merger under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended. On August 15, the U.S. Federal Trade Commission granted early termination of the HSR Waiting Period, the company disclosed. The completion of the merger remains subject to the satisfaction or waiver of other customary closing conditions specified in the merger agreement, including the adoption of the merger agreement by the company’s stockholders. As previously disclosed, the special stockholder meeting to consider adoption of the merger agreement has been scheduled to be held virtually on September 9, at 9:00 a.m. Eastern Time.