AMICAS Going, Going, Private (AMCS)

Posted in pre-market 
December 28th, 2009

AMICAS, Inc. (NASDAQ: AMCS) is trading up sharply on its announcement that it will go private in a buyout by Thoma Bravo for $5.35 per share.  The company entered into a definitive merger agreement on December 24 to be acquired by an affiliate of Thoma Bravo, LLC, in a transaction valued at approximately $217 million. The AMICAS Board of Directors unanimously approved the agreement and resolved to recommend that the shareholders of AMICAS adopt the agreement.

This represents a premium of approximately 24% over the average closing share price during the 30 trading days ending December 24, 2009, and represents a 38% premium over AMICAS’ average closing share price during the 90 trading days ending December 24, 2009.

At 8:20 AM EST we have seen AMICAS trade up 19.9% at $5.30 after closing at $4.42 last week.  There have also been 61,000 shares traded.  Average volume is only 117,000 shares, while the prior 52-week trading range was $1.47 to $4.84.


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