AngioDynamics, RITA merger closing expected on Jan. 29

By Jennifer Chiou

New York, Jan. 25 - AngioDynamics, Inc. and RITA Medical Systems, Inc.'s merger is anticipated to wrap on Jan. 29, according to an 8-K filing with the Securities and Exchange Commission.

The terms of the agreement are based on the average closing price of AngioDynamics stock for the 10 trading days ended on Jan. 24. Each share of RITA common stock will be convertible into the right to receive 0.1772 of a share of AngioDynamics and 51.5 cents in cash.

The closing of the merger is conditioned upon approval from RITA stockholders at a Jan. 29 meeting as well as approval from AngioDynamics shareholders for the share issuance.

AngioDynamics is a Queensbury, N.Y.-based medical device company. RITA is a Fremont, Calif., medical device company focused solely on cancer therapies.

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