Medicalgorithmics Shares Rally on $67 Million Takeover Letter of Intent

3-line summary

• Polish healthcare company Medicalgorithmics (MDG) said a Nasdaq-listed US healthcare company signed a letter of intent to acquire 100% of its shares for total consideration of at least $67 million, to be paid primarily in the acquirer's common stock.
• The acquirer plans to raise at least 10 million euros in non-debt equity financing before or at the signing of a definitive agreement; the current stage is the letter of intent, with a final agreement still to follow and no timeline or closing conditions specified.
• Medicalgorithmics shares jumped 7.4% following the announcement.

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