WEST WARWICK, R.I., August 27 — AstroNova, Inc. and Arcline Investment Management jointly announced today the previously announced acquisition of AstroNova by affiliates of Arcline has been completed. Under the terms of the transaction, affiliates of Arcline acquired all outstanding common stock of AstroNova for $29.00 per share in an all-cash transaction.
With the completion of the transaction, AstroNova shareholders are entitled to receive $29.00 in cash for each share of common stock they owned as of the closing. AstroNova will cease trading and the Company will no longer be listed on the Nasdaq.
Shareholders will soon receive a letter of transmittal and instructions for use in effecting the surrender of any stock certificates (or effective affidavits of loss in lieu thereof), book-entry shares and/or such other documents as may be required in exchange for the merger consideration. Shareholders should wait to receive the letter of transmittal before surrendering their share certificates. Shareholders of the Company that hold shares in street name will receive the merger consideration in their brokerage or similar accounts.