Shares of Agiliti Inc. (AGTI) soared 30% ahead of the market open on Monday after the company announced it has reached an agreement to be taken private by THL Partners in a $1.35 billion deal.
Under the terms of the agreement, a division of THL will acquire each Agiliti share for $10 in cash, representing a 31% premium over the stock's previous closing price.
The transaction, valuing Agiliti at $2.5 billion, is anticipated to be finalized in the first half of the year, according to the company's statement.
“Agiliti serves a critical role in sustaining our national healthcare infrastructure, and our dedicated team has led the way to our substantial growth and evolution over the last decade,” said Tom Leonard, Chief Executive of Agiliti.
“We are pleased to expand our five-year partnership with THL in a transaction that provides immediate value and liquidity to our shareholders, while lifting certain overhangs that had limited our performance in the public market since the time of our IPO.”