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Surgalign Holdings, Inc. (SRGA) announced a definitive agreement to purchase Holo Surgical Inc., a Chicago-based private technology company developing the revolutionary Augmented Reality and Artificial Intelligence platform, to enable digital spine surgery. Total consideration for the transaction is valued at up to $125 million, consisting of consideration valued at $42 million payable at closing in cash and shares plus potential future milestone payments. The transaction is anticipated to close during the fourth quarter of 2020, depends on customary closing conditions.
According to agreement, at the closing, Surgalign will pay $30 million in cash and issue 6.25 million shares of Surgalign common stock which are valued at approximately $12 million, based on the volume-weighted average trading price of Surgalign’s shares of common stock during the five trading days ended September 25, 2020. In addition, further consideration of up to $83 million may be paid in stock and cash upon achievement of certain regulatory, developmental and commercial milestones. The closing cash payment will be funded through existing cash on the balance sheet.
The transaction is anticipated to close in the fourth quarter, subject to the expiration or early termination of the waiting period under the Hart–Scott–Rodino Antitrust Improvements Act of 1976 and other customary closing conditions.
SRGA Recent Trade
The share price of SRGA descended by -$0.18 during the exchanging session on 09/30/20 to exchange at $1.81. Surgalign Holdings Inc. stock has an exchanging volume of 2.33 million shares, which is high, contrasted with its 3-months average volume of 585.39K shares. Its market capitalization has now reached to $136.04M.
SRGA Past Trading Activity
The market tends to become urbane often, in any event, for prepared investors and traders. In any event, when a merchant got what he/she had expected, the market occasionally chooses to move the other way. This instability leads a few traders questioning and re-thinking their moves. This is the reason becoming acquainted with past price performance, just as both long and short time period, is significant. If we look the past performance, during the last one week, SRGA price has dropped by -2.69%. In the course of past three months sees the stock go down around -41.42%, while it has gain 13.84% over the past six months and -33.94% since the start of the year.
SRGA Earning History
Earnings per share are the amount of profit that a company produces during a specific period, which is usually defined as a quarter (three calendar months) or a year. In recent quarter of (Sep 2020), the firm recorded a revenue of 54.23 billion, which was higher than the gauge of 24.85M made by certain experts. For that equivalent quarter, Surgalign Holdings Inc. posted -$0.51 earnings per share (EPS) which was underneath the consensus estimate of -$0.27 by -$0.24, which represents to a reduction by -88.90%.
SRGA Price Performance
Let us presently take a gander at a portion of its probable help and opposition resistance. Late research on Surgalign Holdings Inc. has seen its stock exchanging -54.41% underneath its three-month high price. A glance at the opposite side additionally observes stock exchanging +2.84% above its three-month low. A more extensive look sees SRGA exchanging -66.48% beneath its 52-week high and 23.97% above from its 52-week low price.
SRGA Instability & Beta Factor
The Volatility of a stock means that the stock’s drop or increase in the event that the more extensive market drops or rushes. A beta score higher than 1 implies that a stock is profoundly unpredictable while underneath 1 implies that the Volatility of a stock is low. If we look trading Volatility. Its 7-day Volatility is around 10.53%, while it has a month to month instability of 8.42%. The company has an ATR (Average True Range) of 0.16 and a beta factor of 1.84.