MergerMay 11, 2026, 04:22 PM
FONAR to Go Private; Common Stockholders to Receive $19.00/Share
AI Summary
FONAR Corporation announced a proposed going-private transaction via a Merger Agreement entered on December 23, 2025, with an affiliate of its CEO. The transaction offers specific cash prices per share for various stock classes, subject to stockholder approval and other conditions, with an expected completion in Q4 2026. Concurrently, the company reported a decrease in net income and revenues for the three months ended March 31, 2026, compared to the prior year, though total assets increased.
Key Highlights
- FONAR entered a Merger Agreement on December 23, 2025, to go private.
- Common Stockholders to receive $19.00 per share in cash.
- Class C Common Stockholders to receive $6.34 per share.
- Class A Non-voting Preferred Stockholders to receive $10.50 per share.
- Net income attributable to FONAR decreased to $1.64M in Q3 2026 from $2.51M in Q3 2025.
- Total revenues decreased to $26.47M in Q3 2026 from $27.17M in Q3 2025.
- Basic EPS for common stockholders was $0.25 in Q3 2026, down from $0.38 in Q3 2025.
- Total assets increased to $219.22M as of March 31, 2026, from $216.91M at June 30, 2025.