Mon, Oct. 26, 4:27 PM
- Endologix (NASDAQ:ELGX) acquires TriVascular Technologies (NASDAQ:TRIV) in a cash-and-stock deal valued at $9.10 per TRIV share or $211M. The stock portion of the deal will be equal to 19.999% of ELGX's outstanding shares while the cash portion will be determined at the closing date and will be based on the value of TRIV options, restricted stock units, warrants, and, if applicable, the conversion of TRIV convertible debt. When the transaction closes in January, ELGX shareholders will own ~84% of the shares of the combined company.
- Endologix CEO John McDermott says, "This merger enhances the near and long-term growth potential of our business by bringing together two of the most innovative companies in the field of endovascular abdominal aortic aneurysm treatment."
- TRIV is up 54% after hours on light volume.
Endologix Inc develops, manufactures, markets & sells medical devices for the treatment of aortic disorders. Its EVAR products include the Endologix AFX Endovascular AAA System (AFX) and the Endologix Powerlink with Intuitrak Delivery System.
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