Feb. 28 at 1:28 PM
$SSKN Friday’s SEC filings are routine when a publicly traded company delist. SSKN is in hot water but Accelmed’s interests align with common share holders. Accelmed owns 20% of SSKN.
Because:
• Accelmed is an insider
• Management has inside information
• They sit on the board
Any take-private would be reviewed under “entire fairness act”, not business judgment.
That means they must show:
• Fair dealing (process)
• Fair price (economics)
A “grab it for pennies” deal is exactly what gets PE sued and often overturned.
Fair EV is about
$8-
$9. Anything lower they would have shareholder suits. I would unfortunately be one of those shareholders going after them, but Accelmed is not known for sketchy takeovers.