Neuronetics Will Acquire Greenbrook Through All-Stock Transaction; Interim Order Granted By Ontario Superior Court, Greenbrook Shareholders To Receive 0.01149 Neuronetics Shares Per Greenbrook Share, Ensuring 57% Ownership Of Combined Entity For Neuronetics' Investors; Terms Not Disclosed
Portfolio Pulse from Benzinga Newsdesk
Neuronetics is set to acquire Greenbrook TMS in an all-stock transaction, with Greenbrook shareholders receiving 0.01149 Neuronetics shares per Greenbrook share. The Ontario Superior Court has granted an interim order for the transaction, which will result in Neuronetics investors owning 57% of the combined entity.
October 04, 2024 | 12:36 pm
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Greenbrook TMS shareholders will receive 0.01149 Neuronetics shares per Greenbrook share in the acquisition by Neuronetics. Greenbrook shareholders will own 43% of the combined entity.
Greenbrook TMS shareholders will benefit from the acquisition by receiving Neuronetics shares, which could provide them with a stake in a larger, potentially more competitive entity. The transaction is recommended by both companies' boards, indicating confidence in the deal's benefits.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Neuronetics is acquiring Greenbrook TMS in an all-stock transaction, resulting in Neuronetics investors owning 57% of the combined entity. This acquisition is expected to expand Neuronetics' market presence.
The acquisition of Greenbrook TMS by Neuronetics is a strategic move to expand its market presence. The all-stock transaction ensures that Neuronetics investors will hold a majority stake in the combined entity, which is likely to be viewed positively by the market.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100