Asensus Surgical merger with Karl Storz recommended by ISS

Asensus Surgical announced that independent proxy advisory firm Institutional Shareholder Services, or ISS, became the second advisory firm to recommend that Asensus Surgical stockholders vote “for” all proposals relating to the pending merger transaction with Karl Storz Endoscopy-America. The vote will take place at the company’s upcoming Special Meeting of Stockholders on August 7. Under the terms of the definitive merger agreement, Karl Storz will acquire all outstanding shares of common stock of Asensus Surgical for consideration equal to 35c per share of common stock in cash. The merger cannot be completed unless the merger agreement is approved and adopted by the holders of a majority of the outstanding shares of common stock. If stockholders do not approve the merger vote, Asensus Surgical expects to seek bankruptcy protection.