M&A
confidence high
sentiment neutral
materiality 0.90
PCMC enters non-binding LOI to acquire Physicians Capital Management in stock-for-stock deal
PUBLIC CO MANAGEMENT CORP
- PCMC to acquire all outstanding stock of Physicians Capital Management in exchange for PCMC equity securities.
- Post-closing, Physicians shareholders would own ~80% and current PCMC shareholders ~20% of combined company.
- Conrad Ivie, M.D. to become Chairman and CEO of PCMC upon closing of the transaction.
- PCMC has ~34,280,000 shares outstanding and is a shell company; acquisition subject to due diligence and definitive agreement.
- LOI is non-binding except for exclusivity, confidentiality, and certain other specified provisions.