Orthofix board rejects revised $24/share unsolicited PE bid, reaffirms SeaSpine merger

Orthofix Medical Inc.

Received unsolicited PE bid at $23/share, later revised to $24/share cash, subject to due diligence and financing.
Board unanimously determined revised offer is not reasonably likely to lead to a superior proposal to SeaSpine merger.
Board reaffirms recommendation for pending stock-for-stock merger with SeaSpine.
Special meeting of Orthofix stockholders set for Jan 4, 2023 to vote on SeaSpine merger approval.

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