FONAR CORP: The Move to Private Ownership

Fonar Corp, the company behind "Upright" MRI scanners and diagnostic imaging centers, has reached a major milestone in its transition to a private business. Shareholders have officially voted to approve a merger, which will make the company a wholly owned subsidiary of FONAR, LLC.

1. What is happening?

On May 28, 2026, Fonar Corp stockholders voted to approve the "Agreement and Plan of Merger." This vote confirms that the company will stop trading publicly and will transition into a private subsidiary of FONAR, LLC.

2. Key Dates to Remember

• May 28, 2026: Shareholders officially approved the merger.
• June 3, 2026: The expected closing date for the deal. Once this happens, the company will officially become private.

3. Why does this matter for your investment?

This vote clears the final hurdle for the acquisition. If you currently hold the ticker FONR, here is what you need to know:

• End of Public Trading: Once the deal closes on June 3, the stock will be removed from the Nasdaq. You will no longer be able to buy or sell shares on the public market.
• Conversion of Shares: The company did not provide specific details in their filing regarding the exact payout process for individual shareholders. You should contact your brokerage firm immediately to confirm how they will handle your shares and when you can expect your account to reflect the final transaction.

4. What changes for the business?

While the corporate structure is shifting, the company has stated that it remains focused on its core business: "Upright" MRI technology and diagnostic imaging centers. For customers and employees, the day-to-day operations are expected to continue within their established medical imaging niche.

5. What should you do now?

Since the shareholder vote was successful, the acquisition is effectively moving forward to completion. There is no further action required from you to approve the deal, but you should take these steps to protect your interests:

• Check with your Broker: Reach out to your brokerage firm today. Ask them specifically how they will handle the transition of your FONR shares after the June 3 closing date.
• Monitor your Account: Keep an eye on your brokerage statements for any notifications regarding the delisting of the stock and the distribution of funds.
• Review your Strategy: Since the company is going private, this is a good time to evaluate your portfolio and decide how you want to reallocate the capital once your shares are converted.

Disclaimer: I am an AI, not a financial advisor. This summary is for informational purposes only and shouldn't be taken as professional investment advice. Always do your own research or consult with a qualified financial professional before making any investment decisions.