Subject to customary closing conditions, the transaction is expected to close on or near 30 June 2014, at which point AngioScore will become a wholly owned subsidiary of Spectranetics.
The up-front consideration consists of $115m in cash and $115m of Spectranetics common stock, although, as permitted by the merger agreement, Spectranetics intends to fund the entire $230m up-front amount in cash with proceeds from a proposed convertible note offering.
Piper Jaffray & Company acted as exclusive financial advisor to Spectranetics and Faegre Baker Daniels is serving as Spectranetics’ legal counsel.
AngioScore president and CEO Thomas R Trotter said that the company believes that this combination provides an opportunity to build a remarkable future while delivering life-impacting technologies to physicians and patients.
"In Spectranetics, we find a like-minded partner that shares our values, our commitment to improving patients’ lives, and equally high standards for operational excellence and quality," Trotter added.
