Altai Capital Pushes OraSure to Sell, Offers Board Seats in Letter

Altai Capital Management, a hedge fund, is urging OraSure Technologies to explore a sale, citing a potential sale value of $4.54 to $6.60 per share, a 42% to 109% premium to the current price. The fund owns approximately 5% of OraSure and is seeking board seats to supervise the review process. OraSure's stock has declined 73% over the last five years due to falling demand for COVID-19 rapid antigen tests.