Monogram Technologies rises on Zimmer Biomet's buyout deal
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Shares of robotic firm Monogram Technologies MGRM.O jump 78.66% to $5.80 premarket
Zimmer Biomet ZBH.N will acquire robotics firm Monogram Technologies MGRM.O for about $177 million, companies say
The deal will allow ZBH to broaden its robotics platform and gain access to MGRM's semi-autonomous knee replacement technology
MGRM stockholders will receive $4.04 per share in cash upfront, which represents a premium of 22.8% to its last close
The deal also includes up to $12.37 per share in contingent value rights, if certain milestones are met by 2030
The deal is expected to close later this year
Up to last close, MGRM up 38.8% YTD
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