SOLY - Soliton rallies on Allergan Aesthetics AbbVie company acquisition proposal of $550M

Allergan Aesthetics, an AbbVie (ABBV) company, and Soliton (SOLY) announced a definitive agreement under which the former will acquire the latter and RESONIC, its Rapid Acoustic Pulse device which recently received U.S. FDA; it is a non-invasive treatment for the short-term improvement in the appearance of cellulite.Under agreement terms, Allergan Aesthetics will pay $22.6/share in cash for each outstanding share of Soliton; Soliton's enterprise value for the transaction is ~$550M.The acquisition expands and complements Allergan Aesthetics' Body Contouring treatment portfolio which includes CoolSculpting Elite."Soliton's technology offers a new, completely non-invasive approach with clinically-proven results to reduce the appearance of cellulite with no patient downtime.  The addition of this technology complements Allergan Aesthetics' portfolio of body contouring treatments," President, Global Allergan Aesthetics and SVP AbbVie Carrie Strom commented.Soliton shares rally 25.6% higher premarket.

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Soliton rallies on Allergan Aesthetics, AbbVie company, acquisition proposal of $550M