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News  ›  Benzinga

Fonar Confirms Take-Private Deal, Stock Soars

Benzinga Logo Benzinga By Lekha Gupta
Fonar Confirms Take-Private Deal, Stock Soars

Fonar Corporation announced a definitive merger agreement to be taken private by a group led by CEO Timothy Damadian at $19.00 per share in cash, representing a 31.5% premium over the last close. The transaction is expected to close in Q3 2026 and will result in delisting from Nasdaq. Fonar shares surged 25.51% in premarket trading on the news.

Insights
FONR   positive

The company announced a take-private deal at $19.00 per share, representing significant premiums (31.5% over last close, 39.7% over 90-day average), which is favorable for shareholders. The stock surged 25.51% in premarket trading, and the special committee of independent directors unanimously recommended the merger.