The Durham, N.C.–based orthobiologics company’s stockholders approved the issuance of shares of Bioventus class A common stock to the stockholders of Misonix for the previously announced merger of the two companies. Through the deal, Misonix will become a wholly-owned subsidiary of Bioventus.
Misonix makes minimally invasive therapeutic ultrasonic medical devices and regenerative tissue products for various orthopedic applications. Its product line will add to Bioventus’ pain treatment, restorative therapies and bone graft substitutes product offerings.
“We are pleased by the outcome of today’s vote and thank our stockholders for supporting the acquisition,” Bioventus CEO Ken Reali said in a news release. “The combination with Misonix creates significant value and provides a deeper global portfolio of pain treatments, restorative therapies and surgical solutions for patients.”
“We are excited about our progress in completing the transaction that will drive long-term value for Misonix shareholders and look forward to closing,” Misonix CEO Stavros Vizirgianakis said.
Under the terms of the merger and acquisition agreement, Misonix stockholders will receive either 1.6839 shares of Bioventus class A common stock or $28.00 in cash for each share of Misonix common stock they hold, which is subject to proration based on an aggregate maximum cash amount payable by Bioventus equal to $10.50 per share of Misonix common stock outstanding shortly prior to the completion of the transaction.
The acquisition is expected to close on or around October 29.