Avanos supplements proxy with additional M&A details amid stockholder lawsuits; merger on track

AVANOS MEDICAL, INC.

Two stockholder lawsuits filed June 29-30, 2026 in NY Supreme Court seeking to enjoin merger; demand letters also received alleging proxy deficiencies.
Avanos voluntarily supplements proxy with additional background on AIP's contact with UBS, UBS conflict disclosure, and estimated UBS fee of not more than $5M.
JP Morgan's public trading multiples analysis shows implied per share equity value range of $12.75-$23.50 vs. merger consideration of $25.00.
JP Morgan's selected transactions analysis shows implied per share equity value range of $9.75-$21.75 vs. merger consideration of $25.00.
Special meeting still set for July 22, 2026; board continues to unanimously recommend approval of merger.

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