FONAR Receives Supplemental "Take Private" Proposal from Proposed Acquisition Group Led by Timothy Damadian at $17.25 per Share.

FONAR Corporation, the inventor of MR Scanning, has received a supplemental "take private" proposal from the Proposed Acquisition Group led by Timothy Damadian. The proposal offers $17.25 per share in cash, a 27% premium over the average closing price for the 90-day trading period ending June 30, 2025. The Special Committee will review the proposal and determine the best course of action for FONAR and its shareholders.

FONAR Corporation (NASDAQ: FONR), the pioneer in Magnetic Resonance Imaging (MRI) technology, has received a supplemental "take private" proposal from a group led by Timothy Damadian. The Proposed Acquisition Group aims to acquire all outstanding shares not currently owned by them at a price of $17.25 per share in cash, representing a 27% premium over the 90-day average closing price ending June 30, 2025 [1].

The proposal was delivered on July 17, 2025, following an initial expression of interest from the Proposed Acquisition Group on July 7, 2025. The Special Committee of the Board of Directors, composed of independent and disinterested directors, has been formed to review the proposal in consultation with independent financial and legal advisors. The committee's objective is to determine the best course of action for FONAR and its shareholders.

FONAR emphasizes that the proposal constitutes only an indication of interest and does not constitute a binding commitment. The company cautions that no decisions have been made regarding its response to the proposed transaction. Shareholders are advised that no action is required at this time, and FONAR does not anticipate making further public statements until a definitive agreement is reached or the Special Committee determines no transaction will be effected.

FONAR, incorporated in 1978, is the first, oldest, and most experienced MRI company in the industry. The company's signature product, the FONAR UPRIGHT® Multi-Position MRI, offers unique advantages, including the ability to scan patients in various weight-bearing positions, which can detect issues that traditional lie-down MRI scanners cannot. This innovative technology has been instrumental in advancing medical imaging and diagnostics.

The company's substantial list of patents includes recent advancements in full weight-bearing MRI imaging and measuring the Upright cerebral hydraulics of the cerebrospinal fluid (CSF) of the central nervous system. FONAR's UPRIGHT® Multi-Position MRI is the only scanner licensed under these patents.

FONAR's primary source of income and growth is attributable to its wholly-owned diagnostic imaging management subsidiary, Health Management Company of America (HMCA). The company's history and innovations have positioned it as a leader in the MRI industry.

For further information, please refer to the company's press release and the Securities and Exchange Commission's website.

References:
[1] https://www.streetinsider.com/Newsfile/Special+Committee+of+FONAR+Board+of+Directors+Announces+Receipt+of+Supplemental+%22Take+Private%22+Proposal/25070799.html
[2] https://www.stocktitan.net/news/FONR/special-committee-of-fonar-board-of-directors-announces-receipt-of-ebb2razugb3z.html