The shares of Cross Country Healthcare, Inc. (CCRN), a technology-driven healthcare workforce solutions company, were surging by more than 28% after the company announced it had entered into a definitive agreement to be acquired by Knox Lane, an investment firm.
Under the terms of the agreement, Knox Lane will acquire Cross Country Healthcare common stock for $13.25 per share in an all-cash transaction valued at $437 million.
The transaction is expected to close in the third quarter of 2026, subject to customary closing conditions.
Upon transaction completion, Cross Country Healthcare will become a privately held company in Knox Lane's portfolio and will cease trading on the Nasdaq.
BofA Securities is serving as the exclusive financial advisor to Cross Country Healthcare, and Davis Polk & Wardwell LLP is serving as legal counsel.
CCRN has traded between $7.43 and $14.99 over the last year. The stock closed Wednesday's trade at $10.11, down 5.25%.
In the pre-market, CCRN is up 28.87% at $13.03.
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