STER Alert: Monsey Firm of Wohl & Fruchter Investigating Proposed Sale of Sterling Check Corp. to First Advantage Corporation
MONSEY, N.Y., March 06, 2024 (GLOBE NEWSWIRE) -- The law firm of Wohl & Fruchter LLP is investigating the proposed sale of Sterling Check Corp. (Nasdaq: STER) (“Sterling”) to First Advantage Corporation (“FAC”) for cash and stock valued at approximately $16.73 per share.
- MONSEY, N.Y., March 06, 2024 (GLOBE NEWSWIRE) -- The law firm of Wohl & Fruchter LLP is investigating the proposed sale of Sterling Check Corp. (Nasdaq: STER) (“Sterling”) to First Advantage Corporation (“FAC”) for cash and stock valued at approximately $16.73 per share.
- Under the terms of the transaction, Sterling shareholders can elect to receive either $16.73 per share in cash or 0.979 shares of FAC common stock for each Sterling share, subject to proration.
- Sterling shareholders are expected to own approximately 16% of the combined company after closing, and current FAC shareholders will own approximately 84%.
- “We are investigating whether the Sterling Board of Directors acted in the best interests of Sterling shareholders in approving the sale.” explained Joshua Fruchter, a founding partner of Wohl & Fruchter.