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Congratulations to fund manager Yehuda Fruchter. Seeking Alpha published his Long Case for Britesmile at 10.15 am yesterday, with the stock trading at about $1.98. The stock immediately rose to $2.15 (chart below), but more importantly, after close, the following press release was issued announcing an acquisition offer at a greater than 100% premium to the current price:

AP
Futuredontics Makes Bid for Britesmile
Friday June 9, 5:48 pm ET
Futuredontics Offers to Buy Britesmile for $4 a Share in Cash and Stock

LOS ANGELES (AP) -- Privately held dental referral service Futuredontics Inc. said Friday that on June 5 an offer to purchase Britesmile Inc. for $4 per share in cash and stock.
Both companies are currently in talks over the offer, Futuredontics said in a statement.

The price offers Britesmile shareholders a 400 percent premium over the trading price when the companies first started talking 30 days ago, Futuredontics said. Shareholders would receive $2 in cash and $2 in Futuredontics stock for each share. The deal would be structured as a tax-free reverse merger.

Britesmile's stock rose 30 cents, or 16.2 percent, to close at $2.15 on the Nasdaq. The buyout announcement, made after the market closed, boosted the stock an additional $1.21, or 56.3 percent, to $3.36 in after-hours trading.

Futuredontics is best known for its brand 1-800-DENTIST. The deal would allow the company to expand its reach in consumer dentistry, it said.

Brightsmile chart

Source: Finding Alpha: Britesmile (BSML)