05:55 PM EDT, 07/09/2025 (MT Newswires) -- FONAR ( FONR ) said it has received a preliminary, non-binding proposal to take the company private, led by Timothy Damadian, the son of the company's founder, Raymond Damadian, and a group that includes board and management team members.

The offer is to acquire all shares not already held by the so-called Proposed Acquisition Group, proposing a minimum 10% premium over FONAR's ( FONR ) 90-day average trading price.

The group currently owns about 5.01% of the company's outstanding stock.

The company said it will carefully review the proposal to determine the course of action.

Shares jumped 4% in recent after-hours activity.