SilverSun Technologies Inc (NASDAQ:SSNT) shares are trading lower by 13.8% to $8.49 Wednesday morning. The stock is pullng back, potentially due to profit-taking, after the company earlier this week announced Jacobs Private Equity II will invest $1 billion ($900 million from JPE, $100 million from co-investors) in SilverSun.
Jacobs is set to take over as CEO and major shareholder, intending to split the current business and establish a new platform for acquisitions in a secret industry.
This move will coincide with a rebranding initiative. SilverSun highlights Jacobs’ track record of constructing large companies via mergers and technology, indicating an intent to replicate this triumph in the upcoming venture.
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According to data from Benzinga Pro, SSNT has a 52-week high of $7.14 and a 52-week low of $2.67.
