Why Is Robotic Surgery-Focused Penny Stock Asensus Surgical Trading Higher On Friday? – Asensus Surgical (AMEX:ASXC)

KARL STORZ Endoscopy-America, Inc. has announced its acquisition of Asensus Surgical Inc. for $0.35 per share in cash. KARL STORZ is a subsidiary of KARL STORZ SE & Co. KG, a family-owned medical technology company based in Germany. The purchase price offers a premium of approximately 67% based on the closing price of Asensus common stock on the NYSE American on April 2. The transaction, approved by Asensus’ Board of Directors, is expected to enhance KARL STORZ’s portfolio and market presence, particularly in the robotic surgical market with the development of the next-generation LUNA system. The deal is set to close in the third quarter of 2024, after which Asensus Surgical will become a subsidiary of KARL STORZ Endoscopy-America. Asensus had secured a loan of up to $20 million from KARL STORZ in April to support operations during the exclusivity period. Asensus reported first-quarter 2024 revenues of $1.1 million. ASXC shares were up 41.40% at $0.33 at the last check on Friday.