Special Committee of FONAR Board of Directors Announces Receipt of Supplemental "Take Private" Proposal
FONAR Corporation (NASDAQ: FONR), The Inventor of MR Scanning, has received a supplemental "take private" proposal from a group led by Timothy Damadian. The Proposed Acquisition Group aims to acquire all outstanding shares not currently owned by them at $17.25 per share in cash.
The offer represents a 27% premium over the 90-day average closing price ending June 30, 2025. This follows an initial expression of interest from July 7, 2025. A Special Committee of independent directors will review the proposal with financial and legal advisors to determine the best course of action for FONAR and its shareholders.
The company emphasizes that this is only a preliminary proposal and no decisions have been made. No shareholder action is required at this time.
FONAR Corporation (NASDAQ: FONR), l'inventore della risonanza magnetica, ha ricevuto una proposta supplementare di "take private" da un gruppo guidato da Timothy Damadian. Il Gruppo Proponente mira ad acquisire tutte le azioni in circolazione non ancora di loro proprietà a 17,25 dollari per azione in contanti.
L'offerta rappresenta un premio del 27% rispetto al prezzo medio di chiusura degli ultimi 90 giorni terminati il 30 giugno 2025. Questa proposta segue un'espressione iniziale di interesse del 7 luglio 2025. Un Comitato Speciale di amministratori indipendenti esaminerà la proposta insieme a consulenti finanziari e legali per determinare la migliore strategia per FONAR e i suoi azionisti.
L'azienda sottolinea che si tratta solo di una proposta preliminare e non sono state prese decisioni. Al momento non è richiesta alcuna azione da parte degli azionisti.
FONAR Corporation (NASDAQ: FONR), el inventor del escaneo por resonancia magnética, ha recibido una propuesta suplementaria para privatizarse por parte de un grupo liderado por Timothy Damadian. El Grupo Propuesto busca adquirir todas las acciones en circulación que aún no poseen a 17,25 dólares por acción en efectivo.
La oferta representa una prima del 27% sobre el precio promedio de cierre de 90 días finalizado el 30 de junio de 2025. Esto sigue a una expresión inicial de interés del 7 de julio de 2025. Un Comité Especial de directores independientes revisará la propuesta junto con asesores financieros y legales para determinar el mejor curso de acción para FONAR y sus accionistas.
La empresa enfatiza que esta es solo una propuesta preliminar y no se han tomado decisiones. No se requiere ninguna acción por parte de los accionistas en este momento.
FONAR Corporation (NASDAQ: FONR), MR 스캐닝의 발명자는 Timothy Damadian가 이끄는 그룹으로부터 보충적인 "비상장화" 제안을 받았습니다. 제안된 인수 그룹은 현재 보유하지 않은 모든 발행 주식을 주당 17.25달러 현금으로 인수하려고 합니다.
이 제안은 2025년 6월 30일로 끝나는 90일 평균 종가에 비해 27% 프리미엄을 의미합니다. 이는 2025년 7월 7일의 초기 관심 표현에 따른 것입니다. 독립 이사들로 구성된 특별 위원회가 재무 및 법률 자문과 함께 제안을 검토하여 FONAR와 주주들에게 최선의 방안을 결정할 예정입니다.
회사는 이것이 단지 예비 제안일 뿐이며 아직 결정된 사항이 없음을 강조합니다. 현재 주주들의 조치는 필요하지 않습니다.
FONAR Corporation (NASDAQ: FONR), l'inventeur de l'imagerie par résonance magnétique, a reçu une proposition supplémentaire de privatisation de la part d'un groupe dirigé par Timothy Damadian. Le groupe proposant l'acquisition vise à racheter toutes les actions en circulation qu'il ne possède pas encore, à 17,25 dollars par action en espèces.
Cette offre représente une prime de 27% par rapport au prix moyen de clôture sur 90 jours se terminant le 30 juin 2025. Elle fait suite à une première manifestation d'intérêt en date du 7 juillet 2025. Un comité spécial composé d'administrateurs indépendants examinera la proposition avec des conseillers financiers et juridiques afin de déterminer la meilleure démarche pour FONAR et ses actionnaires.
L'entreprise souligne qu'il ne s'agit que d'une proposition préliminaire et qu'aucune décision n'a été prise. Aucune action de la part des actionnaires n'est requise pour le moment.
FONAR Corporation (NASDAQ: FONR), der Erfinder der MRT-Scans, hat ein ergänzendes "Privatisierungsangebot" von einer Gruppe unter der Leitung von Timothy Damadian erhalten. Die vorgeschlagene Erwerbsgruppe beabsichtigt, alle ausstehenden Aktien, die sie derzeit nicht besitzen, zu 17,25 USD pro Aktie in bar zu erwerben.
Das Angebot stellt eine Prämie von 27% gegenüber dem 90-Tage-Durchschnittsschlusskurs zum 30. Juni 2025 dar. Dies folgt auf eine erste Interessensbekundung vom 7. Juli 2025. Ein Sonderausschuss unabhängiger Direktoren wird den Vorschlag zusammen mit finanziellen und rechtlichen Beratern prüfen, um den besten Weg für FONAR und seine Aktionäre zu bestimmen.
Das Unternehmen betont, dass es sich nur um einen vorläufigen Vorschlag handelt und noch keine Entscheidungen getroffen wurden. Zu diesem Zeitpunkt sind keine Maßnahmen der Aktionäre erforderlich.
- Proposed cash offer of $17.25 per share represents a 27% premium over 90-day average
- Independent Special Committee formed to evaluate the proposal
- Potential for shareholders to receive immediate cash value for their shares
- No binding commitment or definitive agreement in place
- Uncertainty about whether the transaction will be approved or completed
- Limited public information will be provided during the evaluation process
Melville, New York--(Newsfile Corp. - July 18, 2025) - The Special Committee of the Board of Directors of FONAR Corporation (NASDAQ: FONR) ("FONAR"), The Inventor of MR Scanning™, today confirmed receipt of a supplemental proposal letter, dated July 17, 2025, from the Proposed Acquisition Group led by Timothy Damadian. The supplemental letter states that the Proposed Acquisition Group is contemplating the pursuit of a plan to acquire all of the outstanding shares capital stock of FONAR not currently owned by the Proposed Acquisition Group, at a price of
The Special Committee, composed of independent and disinterested directors, was formed in response to interest expressed by the Proposed Acquisition Group in exploring a possible transaction in a letter delivered to the FONAR Board and dated July 7, 2025. The Special Committee will carefully review the supplemental proposal in consultation with independent financial and legal advisors to determine the course of action that is in the best interest of FONAR and all shareholders. No action is required by FONAR shareholders at this time.
FONAR cautions its shareholders and others considering trading in FONAR's securities that FONAR has only recently received the supplemental proposal letter and no decisions have been made with respect to FONAR's response to the proposed transaction. The proposal constitutes only an indication of interest by the Proposed Acquisition Group and does not constitute a binding commitment.
There can be no assurance that any agreement will be executed or that the transaction contemplated in the proposal or any other transaction will be approved or consummated. No agreement, arrangement or understanding between FONAR and the Proposed Acquisition Group relating to any proposed transaction will be created unless definitive documentation is executed and delivered by the appropriate parties.
FONAR does not anticipate making any further public statements about this matter or the activities of the Special Committee unless and until either it enters into a definitive agreement for a transaction or the Special Committee determines that no such transaction will be effected.
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About FONAR
FONAR, The Inventor of MR Scanning™, located in Melville, NY, was incorporated in 1978, and is the first, oldest and most experienced MRI Company in the industry. FONAR went public in 1981 (Nasdaq:FONR). FONAR sold the world's first commercial MRI to Ronald J. Ross, MD, Cleveland, Ohio. It was installed in 1980. Dr. Ross and his team began the world's first clinical MRI trials in January 1981. The results were reported in the June 1981 edition of Radiology/Nuclear Medicine Magazine and the April 1982 peer-reviewed article in the Journal Radiology. The technique used for obtaining T1 and T2 values was the FONAR technique (Field fOcusing Nuclear mAgnetic Resonance), not the back projection technique. www.fonar.com/innovations-timeline.html.
FONAR's signature product is the FONAR UPRIGHT® Multi-Position™ MRI (also known as the STAND-UP® MRI), the only whole-body MRI that performs Position™ Imaging (pMRI™) and scans patients in numerous weight-bearing positions, i.e. standing, sitting, in flexion and extension, as well as the conventional lie-down position. The FONAR UPRIGHT® Multi-Position™ MRI often detects patient problems that other MRI scanners cannot because they are lie-down, "weightless-only" scanners. The patient-friendly UPRIGHT® MRI has a near-zero patient claustrophobic rejection rate. As a FONAR customer states, "If the patient is claustrophobic in this scanner, they'll be claustrophobic in my parking lot." Approximately
FONAR has new works-in-progress technology for visualizing and quantifying the cerebral hydraulics of the central nervous system, the flow of cerebrospinal fluid (CSF), which circulates throughout the brain and vertebral column at the rate of 32 quarts per day. This imaging and quantifying of the dynamics of this vital life-sustaining physiology of the body's neurologic system has been made possible first by FONAR's introduction of the MRI and now by this latest works-in-progress method for quantifying CSF in all the normal positions of the body, particularly in its upright flow against gravity. Patients with whiplash or other neck injuries are among those who will benefit from this new understanding.
FONAR's primary source of income and growth is attributable to its wholly-owned diagnostic imaging management subsidiary, Health Management Company of America (HMCA) www.hmca.com.
FONAR's substantial list of patents includes recent patents for its technology enabling full weight-bearing MRI imaging of all the gravity sensitive regions of the human anatomy, especially the brain, extremities and spine. It includes its newest technology for measuring the Upright cerebral hydraulics of the cerebrospinal fluid (CSF) of the central nervous system. FONAR's UPRIGHT® Multi-Position™ MRI is the only scanner licensed under these patents.
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UPRIGHT®, and STAND-UP® are registered trademarks. The Inventor of MR Scanning™, CSP™, MultiPosition™, UPRIGHT RADIOLOGY™, pMRI™, CFS Videography™, Dynamic™ and The Proof is in the Picture™, are trademarks of FONAR Corporation.
This release may include forward-looking statements from the company that may or may not materialize. Additional information on factors that could potentially affect the company's financial results may be found in the company's filings with the Securities and Exchange Commission.
| NEWS | Fonar Corporation |
| For Immediate Release | The Inventor of MR Scanning™ |
| Contact: Daniel Culver | An ISO 13485 Company |
| Director of Communications | Melville, New York 11747 |
| E-mail: investor@fonar.com | Phone: (631) 694-2929 |
| www.fonar.com | Fax: (631) 390-1772 |
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/259288
FAQ
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