ExcelFin Acquisition and Baird Medical Agree to Waive Minimum Cash to Close

Baird Medical and ExcelFin Acquisition announced an update to their business combination agreement, including the waiver of the $15 million minimum cash closing condition. Baird Medical also agreed to subject 30% of its shares to be received in the transaction to an earnout at a $12.50 trading price.

The target is a microwave ablation medical device developer and provider in  and the United States. Baird was established in 2012.

The deal with China-based Baird was announced last June at an implied pro forma enterprise value of approximately $370 million.

If aoorived, Baird is expected to trade on the Nasdaq under symbol BDMD. Read more.


Source: ExcelFin Acquisition and Baird Medical Agree to Waive Minimum Cash to Close