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FONR($15.92) gets a go-private offer...


FONAR BOARD OF DIRECTORS ANNOUNCES RECEIPT OF NON-BINDING “TAKE PRIVATE” PROPOSAL

MELVILLE, NEW YORK, July 9, 2025 – FONAR Corporation (NASDAQ-FONR) (“FONAR”), The Inventor of MR Scanning™, today announced that its board of directors (the “Board”) received a preliminary, non-binding proposal letter, dated July 7, 2025 from a Proposed Acquisition Group led by Timothy Damadian and consisting of certain members of the management team and Board of Directors of FONAR Corporation and third parties, to acquire all of the outstanding capital stock of FONAR not currently owned by the Proposed Acquisition Group, at a price per share anticipated to be “at a premium of no less than 10% to the average closing market price of FONAR’s common stock for the 90 trading days immediately preceding July 1, 2025”. The letter states that the Proposed Acquisition Group currently beneficially owns approximately 5.01% of the outstanding FONAR Stock.

The Board has established a special committee consisting of independent and disinterested directors of the Board, who will carefully review the proposal to determine the course of action that is in the best interests of The Company and all shareholders. No action is required by FONAR shareholders at this time.

FONAR cautions its shareholders and others considering trading in FONAR’s securities that FONAR has only recently received the proposal letter and has not had an opportunity to carefully review and evaluate the proposal or make any decision with respect to FONAR’s response to the proposal. The proposal constitutes only an indication of interest by the Proposed Acquisition Group and does not constitute a binding commitment.

There can be no assurance that the Company will pursue this transaction or other strategic outcome, or that a proposed transaction will be approved or consummated. No agreement, arrangement or understanding between FONAR and the Proposed Acquisition Group relating to any proposed transaction will be created unless definitive documentation is executed and delivered by the appropriate parties.

FONAR does not undertake any obligation to provide any updates with respect to this or any other transaction, or to provide any additional disclosures to reflect subsequent events, new information or future circumstances, except as required under applicable law.