Medical Equipment Stock Skyrockets on Takeover Deal

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Pyng Medical Corp. (TSXV: PYT), a medical equipment stock, shot sharply higher after agreeing to be acquired by Teleflex

Sean Mason | February 6, 2017 | SmallCapPower

A big takeover premium was great news for investors in a medical equipment stock Monday. Here’s some small stocks making big moves on Monday, February 6, 2017 (as of 4 pm EST):

Medical equipment stock Pyng Medical Corp. (TSXV: PYT) soared 372% to $0.38 on Monday after the maker of trauma and resuscitation products for front-line critical care and emergency medical personnel announced that it has agreed to be acquired by Teleflex Incorporated for US$0.30203 per share in cash.

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As well, shares of Ithaca Energy Inc. (TSX: IAE) jumped 12% to $1.94 as the North Sea oil and gas operator said it has agreed to be acquired by Delek Group Ltd. for C$1.95 per share in cash.

Quantum International Income Corp. (TSXV: QIC), meanwhile, reported that it has agreed to sell its healthcare business, Centers for Special Surgery, LLC, for US$3 million. Quantum International stock popped 8% to $0.07 following the announcement.

Finally, Immunovaccine Inc. (TSX: IMV) shares climbed 20% to $1.07 after the clinical stage immuno-oncology company announced that the UHN’s Princess Margaret Cancer Centre will conduct a Phase 2 clinical trial to evaluate the use of a combination of immunotherapies from Immunovaccine and Merck for the treatment of ovarian cancer.

See more Small and Micro Cap Market Movers Daily from Sean Mason. Tomorrow’s big stock market winners could be found here today!

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