iRhythm to issue USD 50 million in unregistered shares as deal consideration for VitalConnect acquisition
IRTC•Unregistered shares to be issued as acquisition consideration
iRhythm Technologies agreed to issue unregistered shares of iRhythm common stock valued at USD 50 million as acquisition consideration.
The stock issuance is tied to iRhythm’s planned purchase of Vital Connect for USD 237.5 million in cash plus stock, subject to adjustments. The share count will be set using the 30-day VWAP ending on the last trading day before the merger agreement date.
The sale is expected to rely on Securities Act Section 4(a)(2) and/or Regulation D exemptions.
