Luxium Solutions, LLC entered into a definitive agreement to acquire Inrad Optics, Inc. (OTCPK:INRD) for $19.4 million on April 8, 2024. Inrad Optics stockholders to receive $1.1 per share in cash. The all cash transaction values Inrad Optics at approximately $19 million, including assumed debt.

The agreement includes a 30-day ?go-shop? period. SK Capital and Edgewater have arranged committed debt financing for the transaction, providing a high level of closing certainty.

At the time of termination, Inrad will be required to pay Luxium a fee of $1,173,544. The transaction was approved unanimously by both Inrad and Luxium's board of directors. The transaction is expected to close mid-2024.

Needham & Company, LLC acted as financial advisor to Inrad Optics. Lowenstein Sandler LLP acted as legal advisor to Inrad Optics. CriticalPoint Partners, LLC acted as financial advisor to SK Capital, Edgewater and Luxium.

Latham & Watkins LLP acted as legal advisor to SK Capital and Luxium. Needham & Company, LLC acted as fairness opinion provider to Inrad Optics.