12:40 PM EDT, 07/19/2024 (MT Newswires) -- (Updates with stock price movement in headline and first paragraph)

Augmedix ( AUGX ) shares climbed by nearly 150% in Friday trading after the company said it had agreed to be acquired by Commure in an all-cash deal valued at about $139 million.

Under the terms, Augmedix ( AUGX ) shareholders will receive $2.35 per share, a 169% premium over the volume-weighted average price of the company's shares for the 30 days ending Thursday.

The deal, which has already been approved by Augmedix's ( AUGX ) board, is expected to close in late Q3 or early Q4, subject to stockholder approval and customary conditions.

Upon deal completion, Augmedix ( AUGX ) will become a privately held subsidiary of Commure.

Price: 2.26, Change: +1.34, Percent Change: +146.63