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Fathom Digital Manufacturing Corp. (NYSE:FATH), an industry leader in on-demand digital manufacturing services, today announced that it has received a non-binding proposal from CORE Industrial Partners, LLC on behalf of itself and its affiliated investment vehicles, (collectively, the "CORE Funds"), to acquire all of the Company's outstanding shares of Class A Common Stock and Class B Common Stock that they do not already own for $4.50 cash per share. The non-binding proposal states that as of November 22, 2023, the CORE Funds collectively owned shares of Class A Common Stock and Class B Common Stock representing approximately 63% of the Company's outstanding voting power.
The board of directors of the Company (the "Board") previously formed a special committee of independent directors (the "Special Committee") to evaluate and consider any potential or actual transaction proposal from the CORE Funds and any other alternative proposals or other strategic alternatives that may be available to the Company. The Special Committee is comprised of Messrs. Adam DeWitt, David Fisher and Peter Leemputte.
The Company understands that the Special Committee is reviewing the proposal from the CORE Funds, has not made any decisions with respect to its response to the proposal and has not set a definitive timetable for the completion of its evaluation of the proposal. There can be no assurance that any definitive agreement will result from the proposal submitted by the CORE Funds or that any transaction will be consummated. The Company and the Special Committee do not intend to comment further about this proposal unless and until they deem that further disclosure is appropriate.
A copy of CORE's proposal letter, dated November 22, 2023, is available as an exhibit to CORE's statement of beneficial ownership on Schedule 13D/ A as publicly filed with the United States Securities and Exchange Commission.
Posted In: FATH
