HashiCorp Inc.

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Ademi LLP is investigating HashiCorp (NASDAQ: HCP) for possible breaches of fiduciary duty and other violations of law in its transaction with IBM.

In the transaction, HashiCorp stockholders will receive only $35 per share in cash, or $6.4 billion enterprise value, net of cash. The transaction agreement unreasonably limits competing transactions for HashiCorp by imposing a significant penalty if HashiCorp accepts a competing bid. HashiCorp insiders will receive substantial benefits as part of change of control arrangements.

We are investigating the conduct of HashiCorp’s board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.