InterCept, a provider of financial services, has hired a financial advisor to explore possible options for the company, including selling it.
InterCept also said it had settled a proxy contest with JANA Partners.
InterCept hired Jefferies & Company to explore its options, the company said Monday.
As part of the settlement with JANA, InterCept has agreed to expand its board to nine members from six. The three new members were nominated by JANA. One will be a newly created Class 1 board seat. InterCept and JANA will drop litigation, and InterCept will reimburse JANA up to $750,000 for expenses “if the shareholders approve the sale of the company,” InterCept said.