Surmodics stock rises after FTC indicates no appeal of merger ruling

Investing.com -- Surmodics Inc (NASDAQ:SRDX) stock gained 2.9% in Monday’s premarket trading after the company announced it expects to promptly close its previously announced acquisition by an affiliate of GTCR LLC.

The medical device technology provider said the Federal Trade Commission (FTC) and certain state regulators do not intend to appeal a November 10 ruling by the United States District Court for the Northern District of Illinois. The court had denied regulators’ motion for a preliminary injunction that would have prevented the closing of the merger.

"With incremental clarity from the FTC, we are pleased to be able to move forward with closing the acquisition by GTCR," said Gary Maharaj, President and CEO of Surmodics, Inc. "Our team is now working to do so expeditiously, for the benefit of all of our stakeholders."

The transaction remains subject to a Temporary Restraining Order (TRO) that prevents the parties from closing the merger before 5:00 p.m. Central Time on Monday, November 17, 2025. The companies have jointly moved with regulators to terminate this TRO.

The merger’s completion still requires satisfaction of other closing conditions outlined in the merger agreement, including the absence of any legal restraints prohibiting the deal, no "Company Material Adverse Effect" occurring, and other customary conditions.

Surmodics provides medical device and in vitro diagnostic technologies to the healthcare industry. The company’s shares have responded positively to the news that the regulatory hurdle appears to be clearing, bringing the acquisition closer to completion.

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