Focus Monetary Companions stated early Thursday that it signed an exclusivity settlement with non-public funding agency Clayton Dubilier & Rice that provides CD&R a restricted time frame to debate and settle the phrases by which it would purchase Focus and take it non-public for $53 per share in money.

In accordance with Focus — which is led by Rudy Adolf — the recommended value of $53 per share represents a 36% premium to its 60-day volume-weighted common value as of Wednesday’s shut and a 48% premium to its closing inventory value on Dec. 28, 2022.

The agency, which staged its preliminary public providing in July 2018, will not be a publicly traded firm if such a transaction is consummated. Its shares, which commerce below the ticker DOCS, have been up roughly 8% at practically $50 per share as of three p.m. ET Thursday.

On Nov. 1, Focus’ board of administrators shaped a committee to assessment CD&R’s preliminary nonbinding provide and to discover different offers. The committee advised its monetary advisors “to broaden their outreach and make contact with different potential bidders relating to curiosity in a definitive transaction” on Dec. 28, the agency defined in a press launch.

CD&R lately advised Focus that its newest nonbinding provide of $53 per share represented its “greatest and remaining” provide, Focus stated, and that this provide was submitted “with the understanding that there can be no additional value negotiations.”