CTEK

CynergisTek, Inc.

1.24
USD
0.81%
1.24
USD
0.81%
0.58 2.44
52 weeks
52 weeks

Mkt Cap 15.03M

Shares Out 12.12M

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CynergisTek soars after hours as co says to be acquired by Clearwater Compliance for $17.7M

CynergisTek (NYSE:CTEK) stock rockets 96.6% to $1.16 in Monday aftermarket trade, after the cybersecurity consulting firm said it would be acquired by Clearwater Compliance for about $17.7M. As per the deal, CTEK shareholders will get $1.25/SHARE in cash, which represents a nearly 116% premium from the stock's closing price of $0.58 on Friday, May 20. CynergisTek will become a privately held unit of Clearwater upon completion of the deal, and its shares will no longer be publicly listed on any market. Clearwater Compliance is a portfolio company of funds affiliated with Altaris Capital Partners, an investment firm focused exclusively on the healthcare industry. Both CTEK and Clearwater provide cybersecurity solutions ad risk management services to the healthcare industry. "We believe that merging Clearwater and CynergisTek as a private company, will allow the combined entity to be more agile with greater flexibility to continue investing in innovation with the opportunity to scale as a Managed Service Provider expanding and enhancing its service portfolio," said CTEK CEO Mac McMillan.

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