FX.co ★ Asensus Surgical Agrees To Karl Storz's Acquisition Offer; Stock Up

Asensus Surgical, Inc., a medical device company, announced its potential acquisition by the medical technology firm, Karl Storz SE & Co. KG. Under the non-binding letter of intent, the purchase price is set at $0.35 per share in cash.

During the negotiation period, which could last up to ten weeks, Asensus Surgical will not engage in acquisition discussions with any other entity. During this period, a merger agreement with Karl Storz is anticipated to be completed.

To help Asensus address its immediate financial obligations, Karl Storz will provide a bridge loan of $20 million during the exclusivity period.

Asensus Surgical has also declared the formation of a transaction committee within its Board of Directors to evaluate the terms of the merger agreement.

At present, Asensus's stock has increased by 29.80%, now trading at $0.277 on the New York Stock Exchange.