Bowman Consulting Group Ltd. (NASDAQ: BWMN) announced on September 14, 2026, that the “go-shop” period established under its previously announced merger agreement has expired. The go-shop period, which allowed the company to solicit alternative acquisition proposals, concluded at 5:00 p.m. Eastern Time on September 13, 2026.
During the 35-day go-shop period, the Company, at the direction of its Board of Directors, and its financial advisor, BofA Securities, actively solicited inquiries from third parties. According to the filing, the Company contacted 76 potentially interested parties. This process included entering into confidentiality agreements with 8 parties and providing access to certain information regarding the Company. The Company reported that no party represented an “Excluded Party” as defined in the merger agreement.
The merger agreement, dated August 10, 2026, is with entities affiliated with Bernhard Capital Partners (“Bernhard”). Under the terms of the agreement, Bernhard will acquire Bowman in an all-cash transaction for $43.00 per share. This represents an enterprise value of approximately $1.0 billion. The purchase price reflects a premium of approximately 58% to Bowman’s unaffected closing share price on Friday, August 7, 2026, and a 57% premium to the Company’s 30-day volume-weighted average share price.
The transaction is expected to close in the fourth quarter of calendar year 2026. Closing is subject to approval by Bowman shareholders, receipt of required regulatory approvals, and the satisfaction or waiver of other customary closing conditions. Following the expiration of the go-shop, the Company became subject to customary “no-shop” provisions that limit its ability to solicit alternative acquisition proposals, subject to specific exceptions outlined in the merger agreement.
