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ASTROTECH CONFIRMS RECEIPT OF UNSOLICTED NON-BINDING ACQUISITION PROPOSAL

Astrotech Corporation (ASTC) : 14.20

AUSTIN, Texas, (GLOBE NEWSWIRE) -- Astrotech Corporation (Nasdaq: ASTC) (the “Company” or “Astrotech”) announced that it has received an unsolicited, non-binding proposal from BML Investment Partners, L.P. (“BML”) to acquire all of the outstanding shares of common stock of the Company for cash consideration of $17.25 per share. The non-binding proposal states that BML holds 13% of the Company’s outstanding shares. The non-binding proposal is not subject to a financing condition but is subject to limited confirmatory due diligence and is based on the Company having at least $35 million of cash and cash equivalents as of the potential closing date of the proposed acquisition, net of any tail and closing costs, and not having issued any shares pursuant to its at-the-market offering agreement dated June 16, 2023 (the “ATM Agreement”). Effective June 27, 2023, the Company terminated the ATM Agreement in accordance with its terms.

Consistent with its fiduciary duties, the Company’s board of directors will evaluate the non-binding proposal to determine the course of action that it believes is in the best interest of the Company and all Astrotech stockholders and respond appropriately. The Astrotech stockholders do not need to take any action at this time.

About Astrotech Corporation

Astrotech (Nasdaq: ASTC) is a mass spectrometry company that launches, manages, and commercializes scalable companies based on its innovative core technology through its wholly-owned subsidiaries. 1st Detect develops, manufactures, and sells trace detectors for use in the security and detection market. AgLAB is developing chemical analyzers for use in the agriculture market. BreathTech is developing a breath analysis tool to provide early detection of lung diseases. Astrotech is headquartered in Austin, Texas. For information, please visit www.astrotechcorp.com.

Total Cash (mrq) 44.15M
Total Cash Per Share (mrq) 26.21
Total Debt (mrq) 576k
Book Value Per Share (mrq) 27.75

https://www.otcmarkets.com/filing/conv_pdf?id=16756014&guid=T-D-kK4N_tXrcLh

Jun 01, 2023 11.36 11.78 10.89 11.40 11.40 35,600
May 01, 2023 10.34 11.95 10.04 11.50 11.50 115,000
Apr 01, 2023 10.65 11.00 10.14 10.40 10.40 45,400
Mar 01, 2023 12.87 13.01 10.10 10.66 10.66 96,900
Feb 01, 2023 12.10 14.07 11.53 12.95 12.95 443,400
Jan 01, 2023 9.99 12.34 9.99 12.09 12.09 125,800
Dec 01, 2022 9.90 11.82 9.28 9.99 9.99 547,217
Nov 01, 2022 12.00 13.50 9.30 10.20 10.20 301,281
Oct 01, 2022 13.20 13.80 10.20 12.30 12.30 183,265
Sep 01, 2022 13.80 14.40 12.30 13.20 13.20 204,439
Aug 01, 2022 13.80 16.20 12.30 13.80 13.80 263,144
Jul 01, 2022 12.60 14.70 12.60 13.80 13.80 63,550
Jun 01, 2022 16.50 17.10 12.60 12.90 12.90 107,050
May 01, 2022 15.90 16.80 14.40 16.50 16.50 98,090
Apr 01, 2022 21.60 22.20 15.90 16.20 16.20 121,183
Mar 01, 2022 21.60 23.10 19.80 21.60 21.60 192,625
Feb 01, 2022 19.20 22.20 18.00 21.30 21.30 249,151
Jan 01, 2022 20.40 23.10 18.00 19.50 19.50 234,297
Dec 01, 2021 24.30 24.60 19.50 20.40 20.40 371,402
Nov 01, 2021 31.20 33.00 22.80 24.00 24.00 522,731
Oct 01, 2021 31.50 34.50 29.10 30.90 30.90 726,944
Sep 01, 2021 33.30 33.90 28.80 31.50 31.50 391,866
Aug 01, 2021 34.50 36.30 28.20 33.30 33.30 1,657,386
Jul 01, 2021 41.40 42.00 30.00 32.40 32.40 963,596
Jun 01, 2021 35.40 39.90 33.60 39.90 39.90 1,113,366
May 01, 2021 36.90 37.20 30.90 35.10 35.10 998,583
Apr 01, 2021 66.60 89.40 32.10 36.90 36.90 6,113,055
Mar 01, 2021 70.50 76.20 42.90 65.70 65.70 1,323,382
Feb 01, 2021 59.40 124.20 59.40 65.70 65.70 2,390,276