Ademi LLP is investigating Sanara (Nasdaq: SMTI) for possible breaches of fiduciary duty and other violations of law in its recently announced transaction with MiMedx.
Sanara shareholders will receive $33.00 in cash and 0.4735 shares of MIMEDX common stock for each share of Sanara common stock they own, which represents a value of $2.00 per share, calculated based on the average closing price of MIMEDX common stock of $4.22 for the last five consecutive trading days through and including July 28, 2026, in a cash-and-stock transaction valued at $35 per share, with a total enterprise value of approximately $350 million.
Sanara insiders will receive substantial benefits as part of change of control arrangements.
The transaction agreement unreasonably limits competing transactions for Sanara by imposing a significant penalty if Sanara accepts a competing bid. We are investigating the conduct of the Sanara board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.
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