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Amicas To Be Acquired By PE Firm Thoma Bravo For $217 Mln - Update

By RTTNews Staff Writer   ✉  | Published:  | Google News Follow Us  | Join Us
rttnewslogo20mar2024

Image and information management solutions provider Amicas Inc. (AMCS) Monday announced that it has agreed to be acquired by an affiliate of private equity firm Thoma Bravo, LLC, in a transaction valued at about $217 million. The acquisition is expected to be closed in the first quarter of 2010.

According to the terms of the transaction, shareholders of Amicas will receive $5.35 in cash for each share of Amicas common stock held by them, which represents a premium of nearly 24% over the average closing share price of Amicas during the 30 trading days ending December 24, 2009, and a 38% premium over Amicas' average closing share price during the 90 trading days ending December 24, 2009.

Under the agreement, signed on December 24, 2009, there is also a provision by which Amicas may solicit alternative proposals from third parties during the 45 calendar days starting December 24. Amicas noted that there can be no assurance that an alternative transaction will emerge.

In Thursday's regular trading session, AMCS closed trading at $4.42 per share on the Nasdaq. In the past 52-week period, the shares have been trading in a range of $1.47 to $4.84.

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