- An affiliate of the middle-market private equity firm Aurora Capital Partners is set to acquire all of the issued and outstanding shares of waste management solutions company Sharps Compliance ( NASDAQ: SMED ) for $8.75 per share all-cash tender offer.
- SMED has entered into a definitive merger agreement with Aurora, and the transaction has been unanimously approved by the Sharps board.
- The offer price represents a premium of ~207% over Sharps' Jul. 11 closing share price.
- After the completion of the tender offer, Aurora will acquire all remaining shares not tendered through a second-step merger at the same price.
- The transaction, subject to clearance under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 and other customary closing conditions, is expected to close in Q3.
- Raymond James & Associates, Inc. served as financial advisor and Norton Rose Fulbright US LLP was a legal advisor to Sharps.
- Source: Press Release
For further details see:
Aurora Capital Partners affiliate to acquire Sharps Compliance for $8.75 per share