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The latest update is out from Sonendo ( (SONX) ).
Sonendo, Inc. has agreed to acquire dental laser system assets and assume related liabilities from Biolase and its affiliates, in a deal worth $14 million plus additional considerations. The agreement is part of a bankruptcy court-supervised sale, where Sonendo will act as the initial “stalking horse” bidder, with the potential of higher bids at auction. Additionally, Sonendo has claimed damages of at least $59 million against Biolase for patent infringement. The completion of the transaction is contingent on various conditions, including court approval, and may involve a break-up fee if Sonendo is outbid.
See more insights into SONX stock on TipRanks’ Stock Analysis page.