We are investigating the fairness of the price of $43.00 per share in cash for which Surmodics, Inc. (Nasdaq: SRDX) (“Surmodics”) has agreed to be sold to GTCR, a leading private equity firm. The sales price is far below the price targets for Surmodics of at least two Wall Street analysts (source: TipRanks).
If you remain a Surmodics shareholder and question the fairness of the price, you may contact our firm to discuss your legal rights at no charge by completing and submitting the form below.
Why is there an investigation?
On May 29, 2024, Surmodics announced that it had agreed to be sold to GTCR for $43.00 per share in cash.
“We are investigating whether the Surmodics Board of Directors acted in the best interests of Surmodics shareholders in approving the sale,” explained Joshua Fruchter, a founding partner of Wohl & Fruchter. “This includes whether the price agreed upon is fair to Surmodics shareholders, as well as whether all material information regarding the transaction has been fully disclosed.”
Notably, according to TipRanks, the sales price of $43.00 per share is far below the price target of:
- Brooks O’Neil of Lake Street ($75.00)
- Michael Petusky of Barrington ($71.00)