By Ben Glickman
Runa Capital has made an offer to acquire MariaDB for 56 cents per share in cash.
The venture capital firm said on Friday that it made the offer on Sept. 14, along with investment affiliates, to acquire 100% of the issued shares of the company.
Runa and affiliates currently own a 7.8% stake in the cloud database company.
The offer represents a premium of about 24% to the Sept. 13 closing price of MariaDB, Runa said, and described the company as “highly challenged” and pointed to “substantial and consistent losses the company has incurred.”
Runa said it was willing to extend a $5 million bridge loan to the company in order to avoid default on its debt.
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