By Ben Glickman
Shares of Akumin rose Friday after the company said it had agreed to be taken private by private-equity firm Stonepeak.
The stock was up 41% to 21 cents in after-hours trading, following a 0.4% rise at Friday’s close. Shares are down 80% this year.
The Plantation, Fla.-based outpatient radiology and oncology company said Stonepeak’s note of $470 million would be cancelled and converted to Akumin stock. Stonepeak will also invest $130 million in the company.
Shareholders will get $25 million in cash and contingent value rights for Akumin shares.
The company expects the prepackaged chapter 11 case to be approved by courts in 45 days.
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