Agiliti Inc. (NYSE: AGTI)
Nationally recognized shareholder rights firm Julie & Holleman LLP is investigating the proposed $10 per share buyout of Agiliti Inc. (NYSE: AGTI) by the company’s largest shareholder, private equity firm Thomas H. Lee Partners, L.P. (“THL”).
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Additional Information:
Agiliti is an essential service provider to the U.S. healthcare industry with solutions that help support a more efficient, safe and sustainable healthcare delivery system. THL is Agiliti’s largest shareholder, owning approximately 74% of the company’s stock. THL took control of the company in 2019 and led its 2021 initial public offering, which priced Agiliti’s stock at $14 per share.
On February 26, 2024, Agiliti announced that it had entered into an agreement to be acquired by THL for $10 per share in cash, which values the company at approximately $2.5 billion. The deal is expected to close in the second half of 2023.
Julie & Holleman, whose attorneys have helped secure hundreds of millions of dollars for shareholders, is concerned about the inadequate deal price. The $10 per share deal price is less than the recent IPO price, the 52-week high price of $19.60 per share, and the $23 per share average price target established by Wall Street analysts. Julie & Holleman is also concerned about conflicts of interest—THL is squeezing out public shareholders while retaining for itself the company’s massive potential.