Akumin Shares Rise 41% on Deal to Go Private

Dow Jones

Oct 21, 2023

By Ben Glickman

Shares of Akumin rose Friday after the company said it had agreed to be taken private by private-equity firm Stonepeak.

The stock was up 41% to 21 cents in after-hours trading, following a 0.4% rise at Friday's close. Shares are down 80% this year.

The Plantation, Fla.-based outpatient radiology and oncology company said Stonepeak's note of $470 million would be cancelled and converted to Akumin stock. Stonepeak will also invest $130 million in the company.

Shareholders will get $25 million in cash and contingent value rights for Akumin shares.

The company expects the prepackaged chapter 11 case to be approved by courts in 45 days.

Write to Ben Glickman at ben.glickman@wsj.com

(END) Dow Jones Newswires

October 20, 2023 17:38 ET (21:38 GMT)

At the request of the copyright holder, you need to log in to view this content

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

{"basename":"","ssrTDKData":{"titleTemplate":"%s - Tiger Brokers","title":"Tiger Brokers | Global Stocks, Options & Futures Trading App","description":"Tiger Brokers, one-stop investment in US stocks, SGX stocks, HK stocks, A-shares & other global assets. One of the best stock trading platforms in Singapore.","keywords":"tiger brokers,tiger trade,tiger brokers singapore,broker online,stock trading in singapore,share trading singapore,brokerage firm singapore,trading app,stock broker singapore,stock trading platforms,trading account","social":{"ogDescription":"Tiger Brokers, one-stop investment in US stocks, SGX stocks, HK stocks, A-shares & other global assets. One of the best stock trading platforms in Singapore.","ogImage":"https://c1.itigergrowtha.com/portal5/static/media/og-logo.be62fbe1.png","ogUrl":"https://www.itiger.com/news/2377227691"},"companyName":"Tiger Brokers"},"pageData":{"isMobile":false,"isTiger":false,"isTTM":true,"region":"SGP","license":"TBSG","edition":"fundamental"},"isCrawlerRequest":true,"__swrFallback__":{"@#url:\"https://stock-news.skytigris.cn/v3/news\",params:#id:\"2377227691\",edition:\"fundamental\",auth_exemption:1,,,undefined,":{"share":"https://ttm.financial/m/news/2377227691?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2023-10-21 05:38","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2377227691","market":"us","top_or_hot":-1,"title":"Akumin Shares Rise 41% on Deal to Go Private","media":"Dow Jones","content":"<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n  By Ben Glickman \n</p>\n<pre>\n \n</pre>\n<p>\n  Shares of Akumin rose Friday after the company said it had agreed to be taken private by private-equity firm Stonepeak. \n</p>\n<p>\n  The stock was up 41% to 21 cents in after-hours trading, following a 0.4% rise at Friday's close. Shares are down 80% this year. \n</p>\n<p>\n  The Plantation, Fla.-based outpatient radiology and oncology company said Stonepeak's note of $470 million would be cancelled and converted to Akumin stock. Stonepeak will also invest $130 million in the company. \n</p>\n<p>\n  Shareholders will get $25 million in cash and contingent value rights for Akumin shares. \n</p>\n<p>\n  The company expects the prepackaged chapter 11 case to be approved by courts in 45 days. \n</p>\n<pre>\n \n</pre>\n<p>\n   Write to Ben Glickman at ben.glickman@wsj.com \n</p>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  October 20, 2023 17:38 ET (21:38 GMT)\n</p>\n<p>\n  Copyright (c) 2023 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Akumin Shares Rise 41% on Deal to Go Private</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAkumin Shares Rise 41% on Deal to Go Private\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2023-10-21 05:38</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n  By Ben Glickman \n</p>\n<pre>\n \n</pre>\n<p>\n  Shares of Akumin rose Friday after the company said it had agreed to be taken private by private-equity firm Stonepeak. \n</p>\n<p>\n  The stock was up 41% to 21 cents in after-hours trading, following a 0.4% rise at Friday's close. Shares are down 80% this year. \n</p>\n<p>\n  The Plantation, Fla.-based outpatient radiology and oncology company said Stonepeak's note of $470 million would be cancelled and converted to Akumin stock. Stonepeak will also invest $130 million in the company. \n</p>\n<p>\n  Shareholders will get $25 million in cash and contingent value rights for Akumin shares. \n</p>\n<p>\n  The company expects the prepackaged chapter 11 case to be approved by courts in 45 days. \n</p>\n<pre>\n \n</pre>\n<p>\n   Write to Ben Glickman at ben.glickman@wsj.com \n</p>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  October 20, 2023 17:38 ET (21:38 GMT)\n</p>\n<p>\n  Copyright (c) 2023 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"AKUMQ","symbol_name":"Akumin Inc.","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2377227691","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2377227691","pubTimestamp":1697837880,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Shares of Akumin rose Friday after the company said it had agreed to be taken private by private-equity firm Stonepeak.The stock was up 41% to 21 cents in after-hours trading, following a 0.4% rise at Friday's close. Shares are down 80% this year.The Plantation, Fla.-based outpatient radiology and oncology company said Stonepeak's note of $470 million would be cancelled and converted to Akumin stock. Stonepeak will also invest $130 million in the company.Shareholders will get $25 million in cash and contingent value rights for Akumin shares.The company expects the prepackaged chapter 11 case to be approved by courts in 45 days.","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"AKUMQ":"Akumin Inc.","BK4196":"保健护理服务"},"translate_title":"阿库民股价在私有化交易中上涨41%","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"AKU":0.9,"AKUMQ":0.9},"content_text":"By Ben Glickman \n\n\n \n\n\n  Shares of Akumin rose Friday after the company said it had agreed to be taken private by private-equity firm Stonepeak. \n\n\n  The stock was up 41% to 21 cents in after-hours trading, following a 0.4% rise at Friday's close. Shares are down 80% this year. \n\n\n  The Plantation, Fla.-based outpatient radiology and oncology company said Stonepeak's note of $470 million would be cancelled and converted to Akumin stock. Stonepeak will also invest $130 million in the company. \n\n\n  Shareholders will get $25 million in cash and contingent value rights for Akumin shares. \n\n\n  The company expects the prepackaged chapter 11 case to be approved by courts in 45 days. \n\n\n \n\n\n   Write to Ben Glickman at ben.glickman@wsj.com \n\n\n  (END) Dow Jones Newswires\n\n\n  October 20, 2023 17:38 ET (21:38 GMT)\n\n\n  Copyright (c) 2023 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}