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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Intricon Corporation | NASDAQ:IIN | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 24.24 | 24.24 | 24.25 | 0 | 01:00:00 |
INTRICON CORPORATION
|
(Exact name of registrant as specified in its charter)
|
Pennsylvania
|
|
1-5005
|
|
23-1069060
|
(State or other jurisdiction of incorporation)
|
|
(Commission File Number)
|
|
(IRS Employer Identification No.)
|
1260 Red Fox Road, Arden Hills, MN 55112
|
||||
(Address of principal executive offices) (Zip Code)
|
||||
Registrant’s telephone number, including area code (651) 636-9770
|
||||
N/A
|
||||
(Former name or former address, if changed since last report)
|
☐
|
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
|
☐
|
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
|
☐
|
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
|
☐
|
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
|
Title of each class
|
Trading Symbol
|
Name of each exchange on which registered
|
Common stock, par value $1.00 per share
|
IIN
|
Nasdaq Global Market
|
Item 8.01
|
Other Events
|
($ in millions)
|
||||||||||
Target
|
Acquiror
|
Date of
Transaction
Announcement
|
Implied
Enterprise
Value
|
EV / EBITDA |
||||||
LTM
|
FTM |
|||||||||
Resonetics, LLC(1)(2)
|
The Carlyle Group, Inc.
|
November 30, 2021
|
$2,250
|
-----
|
-----
|
|||||
Medbio, Inc.(1)(2)(3)
|
Protective Industries Inc. (subsidiary of Berwind Corporation)
|
November 22, 2021
|
-----
|
-----
|
-----
|
|||||
Oscor Inc. (and certain affiliates)(1)(2)
|
Integer Holdings Corporation
|
October 29, 2021
|
$220
|
-----
|
-----
|
|||||
International Rubber Products, Inc.(1)(2)(3)
|
Integrated Polymer Solutions, Inc.
|
February 18, 2021
|
-----
|
-----
|
-----
|
|||||
NN, Inc. (Life Sciences division)(1)(2)
|
MW Industries, Inc.
|
August 24, 2020
|
$825
|
-----
|
-----
|
|||||
IWG High Performance Conductors, Inc.(1)(2)
|
Teleflex Incorporated
|
February 20, 2020
|
$260
|
-----
|
-----
|
|||||
Providien, LLC(1)(2)
|
Carlisle Companies Incorporated
|
October 21, 2019
|
$332
|
-----
|
-----
|
|||||
Orchid Orthopedic Solutions, LLC(1)(2)(3)
|
Nordic Capital Fund IX (affiliate of Nordic Capital Limited)
|
January 22, 2019
|
-----
|
-----
|
-----
|
|||||
Avalign Technologies, Inc.(1)(2)(3)
|
Linden Capital Partners LLC
|
December 28, 2018
|
-----
|
-----
|
-----
|
|||||
Integer Holdings Corporation (AS&O business)(1)(2)
|
MedPlast, Inc.
|
May 3, 2018
|
$600
|
-----
|
-----
|
|||||
Cadence, Inc.(1)(2)(3)
|
Kohlberg & Company, L.L.C.
|
April 18, 2018
|
-----
|
-----
|
-----
|
|||||
Paragon Medical, Inc.(4)
|
NN, Inc.
|
April 3, 2018
|
$375
|
15.6x
|
-----
|
|||||
Spectrum Plastics Group, Inc.(1)(2)(3)
|
AEA Investors LP
|
January 31, 2018
|
-----
|
-----
|
-----
|
|||||
Cirtec Medical Systems, LLC(1)(2)(3)
|
3i Group plc
|
July 5, 2017
|
-----
|
-----
|
-----
|
|||||
Tecomet, Inc.(1)(2)(3)
|
Charlesbank Capital Partners, LLC
|
May 1, 2017
|
-----
|
-----
|
-----
|
|||||
Vention Medical, Inc. (Advanced Technologies business)(2)
|
Nordson Corporation
|
February 20, 2017
|
$705
|
14.7x
|
-----
|
|||||
Vention Medical, Inc. (Device Manufacturing Service business)(1)(2)(3)
|
MedPlast Inc.
|
February 20, 2017
|
-----
|
-----
|
-----
|
|||||
Specialty Silicone Fabricators, Inc.(1)(2)(3)
|
Trelleborg AB
|
June 13, 2016
|
-----
|
-----
|
-----
|
Marle International SAS(1)(2)(3)
|
IK Investment Partners Limited
|
May 25, 2016
|
-----
|
-----
|
-----
|
|||||
Alcoa, Inc. (Remmele Medical Operations business)(1)(2)(3)
|
LISI SA
|
April 11, 2016
|
-----
|
-----
|
-----
|
|||||
Creganna-Tactx Medical(1)(2)
|
TE Connectivity LTD.
|
February 2, 2016
|
$895
|
-----
|
-----
|
|||||
Lake Region Medical, Inc.(2)
|
Greatbatch, Inc.
|
August 27, 2015
|
$1,727
|
11.6x
|
-----
|
|||||
Precision Engineered Products, LLC(4)
|
NN, Inc.
|
August 17, 2015
|
$615
|
8.9x
|
-----
|
|||||
AdvancedCath Technologies, LLC(1)(2)
|
TE Connectivity LTD.
|
February 18, 2015
|
$190
|
-----
|
-----
|
|||||
Precision Wire Components, LLC(1)(2)(3)
|
Creganna-Tactx Medical
|
October 29, 2014
|
-----
|
-----
|
-----
|
|||||
Symmetry Medical Inc. (OEM Solutions business)(4)
|
Tecomet Inc.
|
August 4, 2014
|
$450
|
9.4x
|
-----
|
|||||
Avalon Laboratories, LLC(1)(2)
|
Nordson Corporation
|
August 4, 2014
|
$180
|
-----
|
-----
|
|||||
Lake Region Medical, Inc.(1)(2)
|
Accellent Inc.
|
February 3, 2014
|
$390
|
-----
|
-----
|
|||||
Maximum
|
28.2x
|
20.0x
|
||||||||
75th Percentile
|
15.6x
|
13.3x
|
||||||||
Mean
|
$573
|
14.0x
|
12.0x
|
|||||||
Median
|
$392
|
13.3x
|
11.4x
|
|||||||
25th Percentile
|
11.2x
|
10.0x
|
||||||||
Minimum
|
7.4x
|
6.9x
|
||||||||
The Company at the February 25th Closing Price ($17.42)
|
$143
|
15.8x
|
10.5x
|
|||||||
The Company at the Per Share Merger Consideration ($24.25)
|
$212
|
23.4x
|
15.6x
|
(1) |
EV/LTM EBITDA data was confidential.
|
(2) |
EV/FTM EBITDA data was confidential.
|
(3) |
Enterprise Value data was confidential.
|
(4) |
EV/FTM EBITDA data was not available.
|
Synergetics USA, Inc.
|
Valeant Pharmaceuticals International, Inc.
|
September 2, 2015
|
$188
|
21.0x
|
19.6x
|
|||||
AdvancedCath Technologies, LLC(1)(2)
|
TE Connectivity LTD.
|
February 18, 2015
|
$190
|
-----
|
-----
|
|||||
FH Orthopedics S.A.S(1)(2)(3)
|
LBO France Gestion SAS
|
October 30, 2014
|
-----
|
-----
|
-----
|
|||||
Avalon Laboratories, LLC(1)(2)
|
Nordson Corporation
|
August 4, 2014
|
$180
|
-----
|
-----
|
|||||
AccessClosure, Inc.(1)(2)
|
Cardinal Health, Inc.
|
April 1, 2014
|
$320
|
-----
|
-----
|
|||||
Maximum
|
28.2x
|
24.4x
|
||||||||
75th Percentile
|
18.0x
|
15.8x
|
||||||||
Mean
|
$326
|
15.9x
|
13.5x
|
|||||||
Median
|
$250
|
15.5x
|
12.8x
|
|||||||
25th Percentile
|
11.9x
|
10.3x
|
||||||||
Minimum
|
9.3x
|
7.7x
|
||||||||
The Company at the February 25th Closing Price ($17.42)
|
$143
|
15.8x
|
10.5x
|
|||||||
The Company at the Per Share Merger Consideration ($24.25)
|
$212
|
23.4x
|
15.6x
|
(1) |
EV/LTM EBITDA data was confidential.
|
(2) |
EV/FTM EBITDA data was confidential.
|
(3) |
Enterprise Value data was confidential.
|
(4) |
EV/FTM EBITDA data was not available.
|
(5) |
EV/LTM EBITDA multiple was greater than 30.0x.
|
Name/Title of Rollover Shareholder
|
Number of
Rollover
Shares
|
Value of Rollover
Shares Based on Per-
Share Merger
Consideration
|
Number of Class A
Units to be Issued for
Rollover Shares
|
Value of Class A
Units to be
Issued for the
Rollover Shares
|
||||||||||||
Scott Longval, President, Chief Executive Officer and a Director
|
20,619
|
$
|
500,011
|
500,011
|
$
|
500,011
|
||||||||||
Michael P. Geraci, Senior Vice President, Sales and Marketing
|
4,124
|
$
|
100,007
|
100,007
|
$
|
100,007
|
||||||||||
Mark Gorder, Director
|
103,093
|
$
|
2,500,005
|
2,500,005
|
$
|
2,500,005
|
||||||||||
Doug Pletcher, Vice President, Medical and Business Development
|
4,124
|
$
|
100,007
|
100,007
|
$
|
100,007
|
||||||||||
Philip I. Smith, Chairman of the Board of Directors
|
4,124
|
$
|
100,007
|
100,007
|
$
|
100,007
|
||||||||||
Total
|
136,084
|
$
|
3,300,037
|
3,300,037
|
$
|
3,300,037
|
|
INTRICON CORPORATION
|
|
|
|
|
By:
|
/s/ Scott Longval
|
|
|
Name:
|
Scott Longval
|
|
Title:
|
President and Chief Executive Officer
|
|
|
|
Date: May 18, 2022
|
|
|
1 Year Intricon Chart |
1 Month Intricon Chart |
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