Benzinga | Feb 8, 2021 07:48AM EST

Well Health Scoops Up CRH Medical For $4 Per Share; CRHM Shares Skyrocket

* CRH Medical Corp (NYSE: CRHM) shares triple in premarket on the heels of a definitive agreement with Well Health Technologies Corp, wherein WELL Health will acquire CRH Medical for the purchase price of approximately $292.7 million and a transaction value of roughly $369.2 million inclusive of credit facility.

* The purchase price of $4.00 per share represents a premium of approximately 83% to CRHM closing price on Feb. 5.

* Additionally, WELL Health received binding commitments in connection with a concurrent non-brokered private placement financing that is expected to close by Feb. 15, 2021; however, the acquisition is not subject to any financing condition.

* The deal is expected to complete during the second quarter of 2021.

* Price Action: CRHM gained 223.8% at $7.06 in premarket trading on the last check Monday.