Sharps Compliance Corp., a national provider of waste management solutions, including medical, pharmaceutical and hazardous waste, has entered into a definitive merger agreement to be acquired by an affiliate of Aurora Capital Partners, a middle-market private equity firm.
Under the terms of the merger agreement, Aurora will commence an all-cash tender offer to acquire all of the issued and outstanding shares of Sharps for $8.75 per share, which represents a premium of approximately 207 percent over Sharps’ closing share price on July 11, 2022. The transaction has been unanimously approved by the Board of directors of Sharps.
Following the successful completion of the tender offer, Aurora will acquire all remaining shares not tendered in the tender offer through a second-step merger at the same price.
In connection with the entry into the merger agreement, certain directors and executive officers of Sharps have entered into tender and support agreements with Aurora pursuant to which they have, among other things, agreed to tender in the offer all of their shares.
The transaction is subject to clearance under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, and other customary closing conditions.
Published in the August 2022 Edition