Asensus Surgical to be Acquired by KARL STORZ for $0.35 per Share in Cash

1. Acquisition Terms: KARL STORZ will acquire all outstanding shares of Asensus Surgical for $0.35 per share in cash, representing a 67% premium over the closing price on April 2, 2024, and a 52% premium over the last trading day before the announcement.
2. Transaction Value: The deal is valued at approximately $95 million.
3. Closing Timeline: The merger is expected to close in the third quarter of 2024, subject to customary closing conditions and stockholder approval.
4. Post-Acquisition Status: Asensus Surgical will become a subsidiary of KARL STORZ Endoscopy-America and will no longer be publicly listed or traded on the NYSE American Exchange.
5. Enhanced Portfolio: The acquisition is expected to strengthen KARL STORZ's portfolio and market presence in the growing robotic surgical market, particularly with the development of the next-generation LUNA system.
6. Leadership Statements: Asensus Surgical's President and CEO, Anthony Fernando, expressed satisfaction with the agreement, stating it maximizes value for stockholders and recognizes the value of the company's innovative technology and team.
7. Advisors: Jefferies LLC served as financial advisor to Asensus Surgical, while Ballard Spahr LLP acted as legal counsel. UBS Investment Bank acted as financial advisor to KARL STORZ, and Ropes & Gray LLP served as legal counsel.