Orthofix and SeaSpine to Combine in Merger of Equals

 

• Highly complementary spine and orthopedics portfolios

• One of the industry’s broadest biologics and regenerative technology offerings

• Differentiated and synergistic enabling technologies

• Meaningful cross-selling revenue synergies and cost savings

• Financial strength to pursue growth investments without need for immediate equity financing

• Expected to be adjusted EBITDA accretive to Orthofix by the second year following close including cost savings

• Companies to host joint conference call and webcast today at 8:00 a.m. ET

Under the terms of the agreement, which was unanimously approved by the Boards of Directors of both companies, SeaSpine shareholders will receive 0.4163 shares of Orthofix common stock for each share of SeaSpine common stock owned. Following the close of the transaction, Orthofix shareholders will own approximately 56.5 percent of the combined company, and SeaSpine shareholders will own approximately 43.5 percent of the combined company, respectively, on a fully diluted basis.

Orthofix and SeaSpine will host a joint conference call and webcast today at 8:00 a.m. ET to discuss the merger.

The conference call can be accessed by dialing +1 (833) 927-1758 within the U.S. and +1 (929) 526-1599 for all other locations. The confirmation code is 867247. Participants should dial in 10 minutes prior to the scheduled start time.

A live webcast of the conference call and associated presentation materials will be available on the investor relations section of each company’s website at www.orthofix.com and www.seaspine.com.

https://finance.yahoo.com/news/orthofix-seaspine-combine-merger-equals-100000003.html