• Bain Capital submits revised non-binding indicative proposal to acquire Insignia Financial
• Revised offer price of A$4.30 per share, a 7.5% premium to previous proposal
• Proposal also allows for potential scrip consideration in Bain-controlled entity

Insignia Financial Ltd (ASX: IFL) has received a revised non-binding and indicative proposal from Bain Capital to acquire all of the shares in the company by way of a scheme of arrangement. The revised offer price is A$4.30 cash per share, adjusted for any dividends paid or payable after the date of the proposal. This represents a 7.5% premium to Bain Capital's original non-binding indicative proposal of $4.00 cash per share dated 12 December 2024. The revised proposal is also in line with the cash price per share proposed by CC Capital Partners LLC in its non-binding indicative proposal received on 3 January 2025. Bain Capital has also noted that it is open to discussing a transaction structure that would provide Insignia Financial shareholders with an opportunity to receive a proportion of their total consideration as scrip consideration in the ultimate Bain Capital-controlled holding entity of Insignia Financial. The revised proposal is otherwise subject to the same terms and conditions as Bain Capital's initial proposal. The Insignia Financial Board, together with its financial and legal advisers, is considering the revised proposal in parallel with its consideration of the CC Capital Proposal. There is no certainty that either proposal will result in a binding offer or that any transaction will eventuate. Insignia Financial will continue to keep the market informed in accordance with its continuous disclosure obligations.