SMED - SMED STOCK NEWS

Aurora Capital Partners announced an all-cash tender offer to acquire Sharps Compliance Corp. (NASDAQ: SMED) for $8.75 per share, representing a 207% premium over the closing share price on July 11, 2022. The offer is made through Raven Buyer, Inc. and will expire on August 19, 2022. The Sharps Board recommends stockholders tender their shares. Following the offer, Sharps will become privately held. Regulatory approvals and the tender of a majority of shares are required for the deal to close.

Sharps Compliance Corp. (SMED) has entered into a definitive merger agreement with an affiliate of Aurora Capital Partners. Aurora will commence an all-cash tender offer at $8.75 per share, reflecting a remarkable 207% premium over Sharps’ closing share price on July 11, 2022. The transaction has received unanimous approval from Sharps' Board of Directors and is expected to close in Q3 2022, pending regulatory approvals. Upon completion, Sharps will transition to a privately held company, with its shares no longer listed publicly.

Sharps Compliance Corp. (SMED) reported Q3 fiscal 2022 revenue of $17.6 million, a 36% decline year-over-year, driven by a decrease in COVID-19 related immunization activity. Excluding this, revenue rose 24%. Customer billings dropped 45% to $17.1 million, with immunization mailback billings down to $2.9 million from $20.2 million last year. The company reported a net loss of $0.3 million or ($0.01) per share, compared to net income of $6.9 million in Q3 2021. Despite challenges, Sharps gained 21% in home healthcare billings and increased route-based customer locations by 21%.

Sharps Compliance Corp. (NASDAQ: SMED) has announced the rescheduling of its third quarter 2022 financial results to May 12, 2022, before market opening. The results will cover the period ending March 31, 2022, followed by a conference call at 11:00 a.m. ET. The call will discuss financial performance, market initiatives, and business strategy. Domestic callers can access the conference call at (877) 545-0320, while international callers should dial (973) 528-0002. A replay will be available until June 11, 2022. The company specializes in regulated medical waste management.

Sharps Compliance Corp. (NASDAQ: SMED) will announce its third quarter 2022 results on April 27, 2022, prior to market open. A conference call will follow at 11:00 a.m. ET, where management will discuss financial results and business strategies. The call can be accessed by domestic and international callers using designated numbers and entry codes. A replay will be available until May 27, 2022. Sharps Compliance specializes in managing regulated medical and hazardous waste, serving healthcare and retail pharmacy sectors.

Sharps Compliance Corp. (NASDAQ: SMED) announced the appointment of W. Patrick Mulloy as President & CEO, succeeding David P. Tusa, effective April 1, 2022. Mulloy, a director since February 2021, brings over 20 years of experience in the senior housing and long-term care industry, previously leading Elmcroft Senior Living and Atria Senior Living. The Board expressed confidence in Mulloy’s ability to drive growth, particularly in the $1 billion medical waste and unused medication disposal markets. The leadership transition aims to enhance Sharps’ position in comprehensive waste management solutions.

Sharps Compliance Corp. (NASDAQ: SMED) announced a new $36.0 million credit facility with a commercial bank, replacing its previous $14.0 million credit line. The facility includes up to $6.0 million for working capital, expandable to $10.0 million, and $30.0 million for acquisitions. CEO David P. Tusa stated this new facility enhances liquidity and provides flexibility for growth plans. The details will be filed in a Current Report on Form 8-K with the SEC.

Sharps Compliance Corp. (NASDAQ: SMED) announced the appointment of Eric Bauer as Executive Vice President & Chief Financial Officer. With extensive experience in finance and M&A, Bauer will oversee Sharps' finance and accounting operations while driving strategic initiatives. Previously, he served as CFO at Nuverra Environmental Solutions and has completed over 65 M&A transactions. The company aims to leverage Bauer's expertise to enhance growth and shareholder value in the waste management sector.

Sharps Compliance Corp. (NASDAQ: SMED) announced the acquisition of Midwest Medical Waste, Inc. for $4.35 million, comprising 75% cash and 25% stock. This acquisition enhances Sharps' route density and market reach in medical waste management in Kansas, where Midwest services over 600 customer locations. CEO David P. Tusa highlighted the strategic alignment with their growth initiatives and expressed confidence in the acquisition contributing to an enhanced market position. The deal marks the start of 2022 for Sharps, with a focus on evaluating further acquisition opportunities.