FONAR Corporation announced on July 9, 2025, that its board of directors received a preliminary, non-binding proposal letter dated July 7, 2025. The proposal, from a Proposed Acquisition Group led by Timothy Damadian, aims to acquire all outstanding capital stock of FONAR not currently owned by the group.
The Proposed Acquisition Group, which beneficially owns approximately 5.01% of FONAR's outstanding stock, anticipates offering a price per share at a premium of no less than 10% to the average closing market price for the 90 trading days immediately preceding July 1, 2025.
In response to the proposal, the Board has established a special committee composed of independent and disinterested directors. This committee will carefully review the proposal to determine the course of action that is in the best interests of the company and all shareholders. No action is required by FONAR shareholders at this time.
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