SeaSpine Holdings up on merger deal with Orthofix

Orthofix Medical

11/10/2022 12:00

** Medical technology firm SeaSpine Holdings Co's shares
 SPNE.O  rise 14.5% to $6.38 premarket
    ** SPNE and Spinal and orthopedics medical device maker
Orthofix Medical Inc  OFIX.O  announce an agreement to combine
in an all-stock merger of equals  urn:newsml:reuters.com:*:nBw2C8xkma
    ** Under the terms of the agreement, SPNE shareholders will
receive 0.4163 shares of OFIX common stock for each share of
SPNE common stock owned
    ** Following the close of the transaction, OFIX will own
about 56.5% of the combined company
    ** Boards of directors of both companies have unanimously
approved the agreement 
    ** SPNE also raises 2022 revenue forecast in the range of
$236 mln to $238 mln from $234 mln to $236 mln previously
 urn:newsml:reuters.com:*:nGNXbYG3S6
    ** Up to Monday's close, SPNE's stock had lost ~59% YTD
 (Reporting by Khushi Mandowara)
 ((Khushi.Mandowara@thomsonreuters.com;))