Avanos Medical, Inc. issued a supplement to its Definitive Proxy Statement to address litigation and demand letters from stockholders alleging disclosure deficiencies regarding its proposed merger with A-AV Holdco I, Inc. The company denies all allegations but is providing additional information to mitigate litigation risks and delays. The supplement includes updated background information regarding discussions with AIP and UBS, revised financial forecasts for Adjusted EBITDA, and updated fairness opinions from J.P. Morgan Securities LLC. J.P. Morgan's analysis indicated an implied per share equity value range of $12.75 to $23.50, compared to the $25.00 per share merger consideration. Avanos Medical, Inc. is a medical technology company.
