Bullish indicating open at $55-$60, IPO prices at $37
Investing.com -- Fonar Corporation (NASDAQ:FONR) stock rose 4.2% following confirmation that the company received a buyout proposal from a group led by Timothy Damadian at $17.25 per share in cash.
The proposed acquisition price represents a premium of approximately 27% over the average closing price of Fonar’s common stock for the 90-day trading period ending on June 30, 2025, according to a supplemental proposal letter dated July 17, 2025.
The medical imaging equipment manufacturer, known as "The Inventor of MR Scanning," has formed a Special Committee composed of independent and disinterested directors to review the offer. This committee was initially established in response to interest expressed by the Damadian-led group in a letter dated July 7, 2025.
The company cautioned that the proposal constitutes only an indication of interest and not a binding commitment. No decisions have been made regarding Fonar’s response to the proposed transaction, and there is no guarantee that any agreement will be executed or that the proposed transaction will be approved or consummated.
Fonar stated that it does not anticipate making further public statements about this matter unless it enters into a definitive agreement or the Special Committee determines that no transaction will occur. The Special Committee will review the proposal with independent financial and legal advisors to determine the course of action in the best interest of the company and all shareholders.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.