At a special meeting today, stockholders of Corindus Vascular Robotics, Inc. (“Corindus” or the “Company”) (NYSE American: CVRS) approved the adoption of the Agreement and Plan of Merger (the “Merger Agreement”), dated as of August 7, 2019, by and among Siemens Medical Solutions USA, Inc. (“SMS USA”), Corpus Merger Inc. (“Merger Sub”) and Corindus. Subject to the terms and conditions of the Merger Agreement, Merger Sub, a wholly owned subsidiary of SMS USA, will be merged with and into Corindus, with Corindus surviving the merger as a wholly owned subsidiary of SMS USA. The Company’s stockholders also approved the proposal to approve, on an advisory (non-binding) basis, specified compensation payable to the Company’s named executive officers in connection with the merger.
The parties anticipate that the transaction will close on October 29, 2019, and the parties intend that promptly thereafter Corindus will be delisted from the NYSE American. At the closing of the merger, the Company’s stockholders will receive: (i) $4.28 in cash, without interest, subject to any applicable withholding taxes, for each share of common stock of Corindus; and (ii) $85.60 in cash, without interest, subject to any applicable withholding taxes, for each share of Series A Convertible Preferred Stock of Corindus and for each share of Series A-1 Convertible Preferred Stock of Corindus, that they own immediately prior to the effective time of the merger.
Source: Business Wire
