The End of an Era: Blucora Completes Its Journey to Private Ownership

Investors searching for Blucora or its successor, Avantax, on the Nasdaq exchange will now find an empty listing. The company has finalized its exit from public markets, concluding a strategic pivot from tax services to specialized wealth management. This move marks the definitive end of its stock market presence.

The company's transformation was set in motion with a pivotal decision in November 2022 to divest its TaxAct business unit. This sale, finalized in December 2022, was aimed at focusing the firm entirely on wealth management. Reflecting this new direction, the company rebranded in January 2023, changing its name from Blucora to Avantax and adopting the new ticker symbol AVTA.

Acquisition and Delisting

Avantax's independence as a public entity proved short-lived. By September 2023, an agreement was reached for the company to be acquired by Cetera Holdings in an all-cash transaction valued at approximately $1.2 billion. The deal was structured from the outset to return the company to private ownership.

Should investors sell immediately? Or is it worth buying Blucora?

• Transaction Value: Approximately $1.2 billion.
• Payment Structure: An all-cash deal.
• Finalization Date: November 2023.

Following the completion of the acquisition in November 2023, Avantax shares were delisted from the Nasdaq. The firm now operates as a distinct business unit within the broader Cetera group.

Shareholder Compensation and Market Closure

As a pure cash acquisition, former shareholders received a specified payout for each share they held. This transaction permanently terminated the tradability of securities under both the BCOR and AVTA ticker symbols. There is no longer a public market for these equity instruments.