Altaris Capital Partners LLC will acquire Implantable device maker Intricon Corporation (NASDAQ:IIN) for $24.25 per share in a transaction that values Intricon at an equity value of approximately $241 million.
- The purchase price represents a premium of approximately 39% to Intricon's closing stock price on February 25.
- Intricon expects to hold a Special Meeting of Shareholders to consider and vote on the proposed merger and the merger agreement.
- "We are excited to enter into this transaction with Altaris, which will deliver a compelling valuation to our shareholders and enable us to accelerate the advancement of our joint development manufacturing capabilities in micro medical technology across a broad range of high growth markets," said Scott Longval, President and CEO.
- Price Action: IIN shares are up 37.3% at $23.93 during the market session on the last check Monday.