Fonar receives takeover proposal from management-led group

6 hours ago 1

FONAR (NASDAQ:FONR) said on Wednesday that it has received a preliminary, non-binding aquisition proposal from a Proposed Acquisition Group led by Timothy Damadian and consisting of certain members of the management team and Board of Directors of FONAR and third parties.
They plan to buy all remaining FONAR shares they don’t already own, offering a price that's at least 10% higher than the stock’s average closing price over the 90 trading days before July 1, 2025.
The letter states that the group currently beneficially owns about 5.01% of the outstanding FONAR stock.
Source: Press Release