FONAR to Go Private at $19 After Q2 Revenue Rises 2%
FONAR signed a definitive merger to go private at $19.00 per share, up from the prior $17.25 offer. In Q2 fiscal 2026, net revenues rose 2% to $25.5 million and net income climbed 15% to $2.5 million while cash and equivalents fell 6% to $53.0 million.
1. Q2 Fiscal 2026 Financial Highlights
For the quarter ended December 31, 2025, FONAR reported net revenues of $25.5 million, a 2% increase from $25.0 million year-over-year. Net income rose 15% to $2.5 million, or $0.31 diluted EPS, despite a 6% decline in cash and equivalents to $53.0 million; six-month net income decreased 16% to $5.2 million, or $0.66 per share.
2. Definitive Merger Agreement to Go Private
On December 29, 2025, FONAR entered a definitive agreement to be taken private at $19.00 per share in cash, up from the $17.25 offer announced in July 2025. The deal reflects board approval of the revised price and is expected to delist FONAR upon closing.
3. Kaskela Law Launches Investigation
Kaskela Law LLC has initiated an investigation into the proposed $19 take-private transaction, examining potential securities law violations and breaches of fiduciary duty related to the merger agreement.