StockTrans, a leading stock transfer agent and stock plan management services provider, is acting as paying and tender agent on behalf of its client, I-Trax, Inc. on the acquisition of I-Trax, Inc. by Walgreen’s in a transaction valued at $278 million. Under the terms of the deal, Walgreen acquired I-Trax, Inc. for $5.40 per common share, or $223.1 million based on I-Trax's 41.3 million shares outstanding as of Nov. 7. In March, Walgreen valued the deal at $278 million, including the assumption of $18.3 million in debt, the acquisition of I-Trax preferred shares, the preferred shares dividend and unexercised warrants.
I-Trax is expected to merge with Walgreen unit Putter Acquisition Sub Inc. and will no longer trade on the American Stock Exchange. I-Trax and Whole Health Management will function under the name Take Care Employer Healthcare Solutions.
"This was a large and sophisticated transaction, and we are pleased with the outcome for our client,” said Jonathan Miller, president of StockTrans, Inc. “Our special Corporate Actions team ensures the entire process takes place smoothly and efficiently, resulting in an easy transition and rapid payment for our client’s shareholders.”
About StockTrans:
StockTrans is an industry leading stock transfer agent and stock benefit plan service provider, helping small and mid-cap companies around the world with their stock transfer and plan administration needs. For more than 35 years, StockTrans has stood out in the stock transfer industry with its unmatched customer service, experienced staff, affordable services and use of the latest technology. For more information, please visit www.stocktrans.com.
Contacts:
Christina Bastas, 610-649-7300
cbastas@stocktrans.com
