Business Wire02.15.18
Exactech, Inc., a developer and producer of orthopedic implant devices and surgical instrumentation for extremities and large joints, is pleased to announce the successful completion of the previously announced merger agreement with TPG Capital, pursuant to which TPG has acquired all of the issued and outstanding common stock of Exactech. In connection with the transaction, Exactech shareholders will receive $49.25 in cash for each share of Exactech common stock they hold (other than certain shares held by the Company’s founders and certain management shareholders). Pursuant to the previously announced rollover and voting support agreement, the company’s founders, CEO, and certain other management shareholders have exchanged a portion of their shares in the transaction, representing approximately 18.8 percent of the company’s outstanding common stock, for new equity securities in the post-closing ownership of the company at a valuation equal to or less than $49.25 per share. The total transaction is valued at approximately $737 million.
As a result of the transaction, Exactech’s common stock will cease trading on the Nasdaq immediately prior to market open on February 15, 2018, and will no longer be listed on the Nasdaq. Exactech intends to file the relevant form with the Securities and Exchange Commission (the “SEC”) under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), requesting the deregistration of its common stock and the suspension of Exactech’s reporting obligations under the Exchange Act.
The closing of the transaction follows the approval of Exactech’s shareholders at a special meeting held yesterday and the satisfaction of all closing conditions.
As a result of the transaction, Exactech’s common stock will cease trading on the Nasdaq immediately prior to market open on February 15, 2018, and will no longer be listed on the Nasdaq. Exactech intends to file the relevant form with the Securities and Exchange Commission (the “SEC”) under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), requesting the deregistration of its common stock and the suspension of Exactech’s reporting obligations under the Exchange Act.
The closing of the transaction follows the approval of Exactech’s shareholders at a special meeting held yesterday and the satisfaction of all closing conditions.