UF startup RTI Surgical Inc. announced it has entered into a definitive agreement with Paradigm Spine LLC to acquire all outstanding equity interest of Paradigm Spine in a cash and stock transaction valued up to $300 million, which consists of $150 million at closing and potential future milestone payments, according to a press release.
According the terms of the agreement, RTI will pay $100 million in cash and 10,729,614 shares of RTI common stock at closing. A combination of cash and RTI common stock will be used for the potential milestone payments. The board of directors of RTI and the board of managers of Paradigm Spine approved the transaction, which is scheduled to close in the first quarter of 2019.
Learn more about RTI Surgical to Acquire Paradigm Spine.