SRGA - Surgalign to acquire Holo Surgical shares +6%

Surgalign Holdings (SRGA) agreed to buy Holo Surgical & its ARAI™ digital surgery platform for up to $125M.Holo Surgical is an private technology company developing ARAI platform, to enable digital spine surgery.Pursuant to the agreement, SRNA will pay $30M in cash and issue 6.25M shares of common stock worth ~$12M, based on the volume-weighted average trading price during the five trading days ended Sept. 25, 2020.Balance consideration of up to $83M may be paid in stock and cash upon achievement of certain regulatory, developmental and commercial milestones.SRNA expects transaction to close in 4Q20.

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Surgalign to acquire Holo Surgical, shares +6%