Intrinsic’s Growing Transaction Opinions Practice Issued Two Public Company Fairness Opinions in 2022

Rhea-AI Summary

Intrinsic LLC, a valuation and transaction advisory firm, announced it issued two fairness opinions for publicly traded clients in 2022. The firm provided an opinion to Zynex Inc. (Nasdaq: ZYXI) affirming that $31 million for acquiring Kestrel Labs was fair. Additionally, for FG Merger Corp (Nasdaq: FGMC), it deemed $100 million in a merger with iCoreConnect, Inc. fair. Intrinsic's Transaction Opinions practice supports Boards of Directors in fulfilling fiduciary duties, particularly amid evolving legal and regulatory landscapes. The firm is bolstered by a team with extensive experience in rendering fiduciary opinions across various sectors.

Positive

• Intrinsic issued two fairness opinions for ZYXI and FGMC, indicating strong business execution.
• The valuations suggest confidence in the financial fairness of the transactions.
• Intrinsic's expertise is reinforced by experienced professionals from top firms.

Negative

• None.

DENVER--(BUSINESS WIRE)-- Intrinsic LLC (“Intrinsic”), a fast-growing valuation and transaction advisory firm with employees located across a dozen U.S. cities, announced today that its Transaction Opinions practice issued two fairness opinions for publicly traded clients in 2022. Garrett Wilson, Managing Director commented, “We are proud and grateful that our publicly traded clients are clearly recognizing the best-in-class execution and value proposition that has been Intrinsic’s calling card for years in the private equity, family office and high net worth clientele communities. Evolving Delaware Court of Chancery legal precedents and increasing SEC scrutiny make independent fairness opinions a wise investment as a part of Boards of Directors’ financial diligence for significant or related party M&A. We look forward to continuing our strong momentum as a trusted provider of fairness opinions for publicly traded companies.”

Intrinsic rendered an opinion for the Board of Directors of Zynex Inc. (Nasdaq: ZYXI) that the $31 million in consideration to be paid to acquire Kestrel Labs was fair from a financial perspective.

Intrinsic rendered an opinion for the Board of Directors of FG Merger Corp (Nasdaq: FGMC), a special purpose acquisition corporation (“SPAC”), that the $100 million in maximum consideration in a merger with iCoreConnect, Inc. was fair from a financial perspective.

In line with Intrinsic’s strategy of developing best-in-class transaction advisory and valuation services, its Transaction Opinions practice has been built via key hires to serve as a trusted partner for independent and defensible fairness and solvency opinions to the Boards of Directors of publicly traded companies as they meet their fiduciary duties to shareholders. Intrinsic has assembled an impressive team of professionals from top firms with experience rendering or litigating over one hundred fiduciary opinions on transactions in many different industries ranging in size from tens of millions to tens of billions of dollars, many of which involved publicly traded companies.

About Intrinsic LLC

Intrinsic is a highly collaborative team of financial experts, providing expertise on valuation and transaction advisory matters. Members of the firm joined from roles in not just Big 4 accounting and international valuation firms, but also private equity, family office investing, C-suite executive leadership, investment banking, and M7 staff. Intrinsic’s own business is shaped and guided by a highly informed group of investors, including some of the most accomplished professionals and academics in the fields of private equity and entrepreneurial finance. For more information, visit www.intrinsicfirm.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230202005811/en/

Garrett Wilson

Manager Director, Transaction Opinions

gwilson@intrinsicfirm.com

(310) 955-0153

Source: Intrinsic LLC

FAQ

What fairness opinion did Intrinsic provide for Zynex Inc. (ZYXI)?

Intrinsic provided a fairness opinion affirming that the $31 million acquisition of Kestrel Labs was fair.

What was the valuation provided for FG Merger Corp (FGMC)?

Intrinsic deemed the $100 million maximum consideration in the merger with iCoreConnect fair.

Why are fairness opinions significant for publicly traded companies like ZYXI and FGMC?

Fairness opinions are essential for Boards of Directors to fulfill their fiduciary duties, especially in light of legal and SEC scrutiny.

How does Intrinsic's Transaction Opinions practice support companies?

The practice offers independent and defensible fairness and solvency opinions to assist Boards of Directors in M&A activities.