$47.50. Salesforce put the ceiling in the announcement.
$BRZE +51.23% after Salesforce said it is acquiring Braze for $5.66 billion, all cash. The same morning, Brodsky & Smith added Braze to a list of merger investigations into whether boards ran a fair process and paid fair value.
The green number hides what changed. An all-cash offer turns a software growth stock into an IOU with a date on it. From here the question is no longer how big Braze can get. It is the gap between the tape and $47.50, and whether the deal closes at all. Anyone buying this for 'momentum' is buying a fixed payout and calling it a rocket.
The deal is announced, not closed. Salesforce's own timeline puts the finish line inside its fiscal calendar, and until that date, $47.50 is a promise, not a deposit.