CCRN Stock Soars on Knox Lane's $437M Buyout Deal

CCRN Stock Jumps 29% on All-Cash Acquisition News

Cross Country Healthcare Inc. (NASDAQ:CCRN) has agreed to be acquired by private investment firm Knox Lane in an all-cash transaction valued at approximately $437 million. The deal prompted an immediate 29% surge in the company's stock price.

Details of the Knox Lane Buyout Agreement

Under the agreement, Knox Lane will purchase all outstanding shares of Cross Country Healthcare for $13.25 per share. This price represents a significant premium of about 31% over the stock's closing price on May 6, 2026, and a 45% premium compared to its 90-day volume-weighted average price.

Impact on Cross Country Healthcare and Its Stockholders

Upon completion, Cross Country Healthcare will transition into a privately held company and will no longer trade on the Nasdaq stock exchange. The transaction is designed to deliver immediate and substantial value to current stockholders while positioning the company for its next growth phase under Knox Lane's portfolio.

Future Outlook and Transaction Timeline

The acquisition is anticipated to close in the third quarter of 2026, pending customary closing conditions, including stockholder and regulatory approvals. Cross Country Healthcare will continue its operations under its existing name and brand, leveraging Knox Lane's sector expertise for future expansion.

FAQ

Q: What is the acquisition price per share for Cross Country Healthcare stock?
A: Knox Lane will acquire all outstanding shares for $13.25 each in an all-cash deal.

Q: Will Cross Country Healthcare still be a public company?
A: No, upon completion of the transaction, the company will become privately held and its stock will be delisted from the Nasdaq exchange.

Source: Investing.com