Salem Media Goes Private in $1/Share WaterStone Buyout
SALM has more than doubled off its 52-week low of $0.36 on light trading volume (0.2× avg).
Summary
Salem Media completed its acquisition by WaterStone, taking the company private at $1.00 per share. The deal represents a 250% premium to the pre-announcement trading price. Salem will continue operating its radio, digital, streaming, podcasting, television, and publishing platforms under private ownership. The transaction removes the stock from public markets, eliminating future trading liquidity for shareholders. This is the final step in a previously announced buyout, with no further shareholder action required.
At the time of this announcement, SALM was trading at $1.00 on OTC in the Trade & Services sector, with a market capitalization of approximately $26.3M. The 52-week trading range was $0.36 to $1.05. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: GlobeNewswire.