Tuesday, November 15, 2011 3:54:56 PM
Conmed Healthcare Mgmt announced it has received notice from Ayelet Investments Ayelet Merger Subsidiary the counterparties to Conmed's previously announced Merger Agreement, that Ayelet does not in good faith believe that it will be able to obtain financing (CONM) 3.84 : Co announced it has received notice from Ayelet Investments LLC and Ayelet Merger Subsidiary the counterparties to Conmed's previously announced Merger Agreement, that Ayelet does not in good faith believe that it will be able to obtain financing on substantially the terms described in the financing commitment due to the inability of Ayelet and its potential financing sources to agree on certain post-closing covenants, including, among others, post-closing financial covenants. Such financing is necessary for Ayelet to have the funds available to complete the proposed merger between Conmed and Ayelet. Conmed is now considering the various options available to it based on such notification; however, in order to continue to comply with its obligations under the Merger Agreement, the Company will hold its previously announced Special Meeting of Shareholders today, November 15, 2011 at 9:00 a.m.
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