BALA CYNWYD, Pa., May 20, 2024 (GLOBE NEWSWIRE) -- Brodsky & Smith reminds investors of the following investigations. If you own shares and wish to discuss the investigation, contact Jason Brodsky (jbrodsky@brodskysmith.com) or Marc Ackerman (mackerman@brodskysmith.com) at 855-576-4847. There is no cost or financial obligation to you.

Agrify Corporation (Nasdaq - AGFY)

Under the terms of the agreement, Agrify will be acquired by Nature's Miracle Holding Inc. (“Nature’s Miracle”) (Nasdaq - NMHI). Agrify shareholders will each be issued 0.45 of a share of Nature’s Miracle common stock for each share of Agrify common stock that they hold. Based on the companies’ current capitalization, it is anticipated that Agrify shareholders will collectively own approximately 30% of the post-merger common stock of the combined companies. The investigation concerns whether the Agrify Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether the deal consideration offers fair value to the Company’s shareholders.

Additional information can be found at https://www.brodskysmith.com/cases/agrify-corporation-nasdaq-agfy/.

HMN Financial, Inc. (Nasdaq - HMNF)

Under the terms of the agreement, HMNF will be acquired by Alerus Financial Corporation (“Alerus”) (Nasdaq - ALRS). Stockholders of HMNF will receive 1.25 shares of Alerus common stock for each share of HMNF common stock they own. Based on Alerus’ closing price of $20.69 as of May 14, 2024, the aggregate deal value is approximately $116.4 million, or $25.86 per share. The investigation concerns whether the HMNF Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether the deal consideration offers fair value to the Company’s shareholders.

Additional information can be found at https://www.brodskysmith.com/cases/hmn-financial-inc-nasdaq-hmnf/.

ChampionX Corporation (Nasdaq – CHX)

Under the terms of the agreement, ChampionX will be acquired by SLB (NYSE - SLB). ChampionX shareholders will receive 0.735 shares of SLB common stock in exchange for each ChampionX share. At the closing of the transaction ChampionX shareholders will own approximately 9% of SLB’s outstanding shares of common stock. The investigation concerns whether the ChampionX Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including the dilution to the Company’s shareholders and whether SLB is paying fair value to shareholders of the Company.

Additional information can be found at https://www.brodskysmith.com/cases/championx-corporation-nasdaq-chx/.

Macatawa Bank Corporation (Nasdaq - MCBC)

Under the terms of the agreement, Macatawa will be acquired by Wintrust Financial Corporation (“Wintrust”) (Nasdaq - WTFC) Each share of Macatawa common stock outstanding will be converted into the right to receive merger consideration paid in shares of Wintrust common stock based on Wintrust’s average trading price at closing determined in accordance with the merger agreement. The aggregate purchase price to Macatawa shareholders is currently estimated to be approximately $510.3 million, or $14.85 per share. The investigation concerns whether the Macatawa Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether the offer from Wintrust provides fair value to the Company’s shareholders.

Additional information can be found at https://www.brodskysmith.com/cases/macatawa-bank-corporation-nasdaq-mcbc/.

Brodsky & Smith is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and have successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.