The Special Committee of FONAR Corporation's Board of Directors confirmed receipt of a supplemental proposal letter dated July 17, 2025. This letter, from the Proposed Acquisition Group led by Timothy Damadian, outlines a plan to acquire all outstanding shares of FONAR not currently owned by the group.
The supplemental proposal specifies a cash price of $17.25 per share for the acquisition. This proposed share price represents a premium of approximately 27% over the average closing price of the common stock for the 90 trading day period ending on June 30, 2025.
The Special Committee, consisting of independent and disinterested directors, will carefully review this supplemental proposal in consultation with its independent financial and legal advisors. FONAR cautions shareholders that this proposal is an indication of interest and does not constitute a binding commitment, with no assurance that a definitive agreement will be executed.
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