SILK - Silk Road Medical Announces Definitive Agreement to be Acquired by Boston Scientific | Benzinga
Boston Scientific to acquire Silk Road Medical for $27.50 per share in cash
SUNNYVALE, Calif., June 18, 2024 (GLOBE NEWSWIRE) -- Silk Road Medical, Inc. ("Silk Road") (NASDAQ:SILK), a leading minimally invasive medical device company for carotid artery procedures, announced today it has entered into a definitive agreement to be acquired by Boston Scientific Corporation ("Boston Scientific") (NYSE:BSX), a global medical technology leader, for $27.50 in cash per share, representing an equity value of approximately $1.26 billion. The per share price represents an approximate 38% premium to the volume-weighted average share price of Silk Road Medical's common stock over the past 60 days.
The board of directors of Silk Road has unanimously approved the transaction and recommend that Silk Road stockholders adopt the merger agreement. The transaction is expected to close in the second half of 2024, subject to the satisfaction of customary closing conditions, including approval by Silk Road's stockholders and applicable regulatory approvals.
Upon the completion of the transaction, Silk Road will become a wholly-owned subsidiary of Boston Scientific.
BofA Securities, Inc.is serving as exclusive financial advisor, and Wilson Sonsini Goodrich & Rosati, P.C. is serving as the legal advisor to Silk Road Medical.
About Silk Road Medical
Silk Road Medical, Inc. (NASDAQ:SILK), is a medical device company located in Sunnyvale, California, and Plymouth, Minnesota, that is focused on reducing the risk of stroke and its devastating impact. The company has pioneered a new approach for the treatment of carotid artery disease called TransCarotid Artery Revascularization (TCAR). TCAR is a clinically proven procedure combining surgical principles of neuroprotection with minimally invasive endovascular techniques to treat blockages in the carotid artery at risk of causing a stroke. For more information on how Silk Road Medical is delivering brighter patient outcomes through brighter clinical thinking, visit www.silkroadmed.com and connect on X, LinkedIn and Facebook.
Investor Contact:
Marissa Bych
Gilmartin Group
investors@silkroadmed.com
Media Contact:
Michael Fanucchi
Silk Road Medical
mfanucchi@silkroadmed.com
Cautionary Statement Regarding Forward-Looking Statements
This communication may contain forward-looking statements, which include all statements that do not relate solely to historical or current facts, such as statements regarding the pending acquisition (the "Merger") of Silk Road Medical, Inc. ("Silk Road"), the expected timing of the closing of the Merger and other statements that concern Silk Road's expectations, intentions or strategies regarding the future. There can be no assurance that the Merger will in fact be consummated. Known and unknown risks and uncertainties could cause actual results to differ materially from those indicated in the forward-looking statements, ...