MONSEY, N.Y., March 02, 2023 (GLOBE NEWSWIRE) -- The law firm of Wohl & Fruchter LLP is investigating whether the directors of Radius Global Infrastructure, Inc. (Nasdaq: RADI) (“Radius”) acted in the best interests of Radius shareholders in approving the sale of Radius to EQT and Public Sector Pension Investment Board (“PSPIB”) for $15.00 per share in cash.
If you remain a Radius shareholder and have questions about your legal rights, you may contact our firm at the following link to discuss your options at no charge:
https://wohlfruchter.com/cases/radius-global-infrastructure/
Alternatively, you may contact us by phone at 866-833-6245, or via email at alerts@wohlfruchter.com.
Why is there an investigation?
On March 1, 2023, after the market closed, Radius announced that it had agreed to be acquired by EQT and PSPIB for $15.00 per share in cash. The agreement has been approved by the Radius board of directors (“Board”).
“We are investigating whether the Radius Board acted in the best interests of Radius shareholders in approving the sale,” explained Joshua Fruchter, one of the law firm’s name partners. “This includes whether the acquisition price adequately compensates Radius shareholders, and whether all material information regarding the transaction has been fully disclosed.”
Notably, the $15.00 per share deal price is below the 52-week high for Radius of $16.52 per share on June 10, 2022, which indicates that EQ and PSPIB may be taking advantage of the temporary market downturn to acquire Radius at a bargain price.
Further, according to an analysis of Wall Street price targets for Radius in the last 90 days published on Seeking Alpha, there is an average price target for Radius of $15.40 per share, and a high price target for Radius of $18.00 per share, which indicates that several Wall Street analysts think the deal price is too low.
Finally, a comment appearing on Seeking Alpha on March 1, 2023, published by an investor with the username Grade-Spiritual, observed that in November 2021, Radius announced a mandatory redemption of warrants to purchase common stock when Radius was trading above $16 per share.
About Wohl & Fruchter
Wohl & Fruchter LLP, with offices in New York City and Monsey, has for over a decade been representing investors in litigation arising from fraud and other corporate misconduct, and recovered hundreds of millions of dollars in damages for investors. Please visit our website, www.wohlfruchter.com, to learn more about our Firm, or contact one of our partners.
Contact:
Wohl & Fruchter LLP
Joshua E. Fruchter
Toll Free 866.833.6245
alerts@wohlfruchter.com
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