Emerald Holding, Inc.

Apollo-managed funds have completed the acquisition of Emerald Holding, Inc. for $5.03 per share in cash. As a result, Emerald's common stock has been delisted from the New York Stock Exchange, and the company intends to terminate its SEC registration. This acquisition, combined with the simultaneous acquisition of Questex, creates a new scaled B2B experiential events and media platform, with Paul Miller appointed as CEO and a new executive leadership team in place. All outstanding obligations under Emerald's credit agreements and registration rights agreements were terminated.

Emerald Holding, Inc. announced that Paul Miller, current CEO of Questex, will lead the combined Emerald and Questex business as Chief Executive Officer upon the closing of the previously announced merger. Hervé Sedky, Emerald's current President and CEO, will transition to a senior advisor role for the combined company. The merger, involving Apollo-managed funds acquiring both Emerald and Questex, is still expected to close in the second half of 2026, subject to customary conditions and regulatory approvals. Miller's extensive experience in the events and media industries is highlighted as key to driving growth for the new entity.

Emerald Holding, Inc. held its Annual Meeting of Stockholders on May 21, 2026, where all proposals were approved. Stockholders re-elected Michael Alicea, David Levin, and Emmanuelle Skala as Class III directors to serve until the 2029 Annual Meeting. The selection of PricewaterhouseCoopers LLP as the independent registered public accounting firm for 2026 was ratified. Additionally, shareholders approved the non-binding advisory vote on named executive officers' compensation and favored a three-year frequency for future advisory votes on executive compensation.

Emerald Holding reported Q1 2026 revenues of $155.4 million, a 5.2% increase from $147.7 million in Q1 2025. However, net income attributable to Emerald Holding, Inc. significantly decreased by 52.9% to $7.2 million, down from $15.3 million in the prior year period. Basic income per share also fell to $0.04 from $0.08. The company saw a substantial increase in net cash provided by operating activities, rising to $28.7 million from $12.6 million.

Emerald Holding, Inc. announced it will be acquired by Apollo-managed funds for $5.03 per share in cash, valuing the company at approximately $1.5 billion. This represents a 42.1% premium to Emerald's unaffected share price. Apollo plans to combine Emerald with Questex, LLC to create a leading North American B2B events and media platform with around 160 events. The transaction, unanimously approved by Emerald's Board and supported by majority shareholder Onex, is expected to close in the second half of 2026, after which Emerald will become a private company. Additionally, Emerald declared a quarterly dividend of $0.015 per share and cancelled its Q1 2026 earnings call.