- Alphatec Holdings (NASDAQ:ATEC) inks agreement to acquire EOS imaging (OTC:EOSGF), for a purchase price of $79.7M, plus the retirement debt of $37.2M, in an all-cash transaction.
- Post closing, the transaction is expected to immediately expand ATEC's revenue base through the addition of EOS's revenue run rate and the monetization of information through incremental pull-through and cross-selling opportunities.
- ATEC expects the acquisition to be accretive to revenue, revenue growth, adjusted EBITDA and FCF in the first full year of operations following the transaction close.
- The Boards of Directors of both companies have approved the execution of a tender offer agreement, through which ATEC will launch a cash tender offer for all of the issued and outstanding shares and convertible notes of EOS imaging.
- Pursuant to the terms, EOS's shareholders would receive €2.45 (~$2.99) per EOS share, representing a premium of 41% to the closing price of EOS shares on Dec. 16, 2020.
- In connection, ATEC has arranged a strategic financing with $178M in financing commitments, including a definitive securities purchase agreement to raise $138M in a private placement of common stock at a price of $11.11/share.
- The Company expects to file the Offer with the French Financial Markets Authority in Feb. 2021. The transaction is expected to close in Q221.
- Related: ATEC terminates agreement to acquire EOS Imaging (April 27).
- Related: Alphatec to buy EOS imaging in $122M deal (Feb. 28).