Brief: Orthofix And Seaspine To Merge To Create Leading Global Spine And Orthopedics Co

Orthofix Medical

11/10/2022 11:14

Oct 11 (Reuters) - Orthofix Medical Inc  OFIX.O :
    * ORTHOFIX AND SEASPINE TO COMBINE IN MERGER OF EQUALS TO
CREATE
LEADING GLOBAL SPINE AND ORTHOPEDICS COMPANY
    * SEASPINE SHAREHOLDERS WILL RECEIVE 0.4163 SHARES OF
ORTHOFIX
COMMON STOCK FOR EACH SHARE OF SEASPINE COMMON STOCK OWNED
    * ORTHOFIX SHAREHOLDERS WILL OWN APPROXIMATELY 56.5 PERCENT
OF
COMBINED COMPANY
    * DEAL EXPECTED TO BE ADJUSTED EBITDA ACCRETIVE TO ORTHOFIX
BY
SECOND YEAR FOLLOWING CLOSE INCLUDING COST SAVINGS
    * COMBINED COMPANY'S BOARD OF DIRECTORS WILL CONSIST OF NINE
DIRECTORS, WITH FIVE DESIGNATED BY ORTHOFIX
    * UPON CLOSING OF TRANSACTION, COMBINED COMPANY'S BOARD OF
DIRECTORS WILL CONSIST OF NINE DIRECTORS
    * JON SERBOUSEK TO SERVE AS EXECUTIVE CHAIRMAN OF BOARD,
KEITH
VALENTINE TO SERVE AS PRESIDENT AND CEO AND MEMBER OF BOARD
    * COMBINED COMPANY WILL BE HEADQUARTERED IN LEWISVILLE,
TEXAS

Source text for Eikon:  ID:nGNX7Xt38g 
Further company coverage:  OFIX.O