Why Are Sharecare Shares Trading Higher Friday?

Sharecare, Inc. SHCR shares spiked after the company announced a definitive agreement to be acquired by an affiliate of Altaris, LLC.

What’s Happening: Under the agreement, Sharecare’s shareholders will receive $1.43 per share in cash, an 85% premium over the last closing price. This acquisition will result in Sharecare becoming a privately held company, no longer listed on Nasdaq.

This transaction delivers significant, immediate cash value to shareholders and best positions Sharecare to continue delivering exceptional services and driving innovation in the healthcare sector. Sharecare’s virtual health platform optimizes individual and population-wide health by improving access and outcomes for patients.

What Else: The merger is expected to close in the second half of 2024, subject to customary conditions, including shareholder and regulatory approvals. Sharecare’s CEO, Brent Layton, emphasized that the deal would strengthen the company’s growth and innovation efforts.

SHCR Price Action: Sharecare shares were up by 76.9% at $1.38 according to Benzinga Pro.

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