07:43 AM EDT, 05/29/2024 (MT Newswires) -- SurModics ( SRDX ) said Wednesday it has agreed to be acquired by affiliates of private equity firm GTCR for $43 per share in cash for a total equity valuation of about $627 million.

The company said the per-share acquisition price represents a 41.1% premium to its 30-trading day volume-weighted average closing price through Tuesday. The company's board has unanimously approved the transaction and said it will recommend that stockholders vote in favor of the deal, which is expected to close in H2 2024.

When the deal is completed Surmodics ( SRDX ) will become a privately held company and its common stock will no longer be listed on The Nasdaq Stock Exchange.

Shares of the company were up more than 18% in recent premarket activity.

Price: 41.56, Change: +6.46, Percent Change: +18.40