Assure (NASDAQ:IONM) stock is taking a beating on Thursday after the intraoperative neuromonitoring surgical support services company terminated a merger agreement with Danam Health.
Assure was planning to merge a subsidiary with Danam Health, which would have seen Danam Health survive the merger as a wholly-owned subsidiary of Assure. However, the company has called off the deal.
Assure is canceling its merger with Danam Health due to alleged misrepresentations of data, including the company’s financial state and ability to complete the Acquisition Transactions.
This has Assure claiming Danam Health didn’t perform its covenants under the Merger Agreement. As a result, Assure is seeking repayment of all of its fees, costs and expenses connected to the merger agreement.
How This Affects IONM Stock
IONM stock is falling on Thursday with heavy trading as investors sell shares. This has more than 1 million shares of the stock changing hands as of this writing. That’s well above its daily average trading volume of about 416,000 shares.
IONM stock is down 52.8% as of Thursday morning.
Investors seeking out even more of the most recent stock market stories are going to want to stick around!
We have all of the hottest stock market news ready to go on Thursday! A few examples include what’s going on with shares of Longeveron (NASDAQ:LGVN), Dave & Buster’s Entertainment (NASDAQ:PLAY) and Neo-Concept (NASDAQ:NCI) stock today. All of this news is available at the links below!
More Thursday Stock Market News
- Why Is Longeveron (LGVN) Stock Up 46% Today?
- Trade of the Day: Place a Contrarian Bet on Dave & Buster’s (PLAY) Stock
- Why Is Neo-Concept (NCI) Stock Up 61% Today?
On Penny Stocks and Low-Volume Stocks: With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That’s because these “penny stocks” are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that InvestorPlace.com’s writers disclose this fact and warn readers of the risks.
Read More: Penny Stocks — How to Profit Without Getting Scammed
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
