• Fonar is set to be acquired by Fonar LLC via a merger in which Fonar Acquisition Sub will merge into the company, leaving it as a wholly owned subsidiary of the buyer.
• The buyer group is controlled by Timothy Damadian, Fonar’s CEO and board chair.
• A special shareholder meeting to vote on the deal is scheduled for May 28, 2026.
• The latest update adds supplemental disclosures to the definitive proxy materials following demand letters and draft complaints from purported shareholders alleging disclosure deficiencies.
• The supplemental filing says confidentiality agreements signed with potential counterparties lacked “don’t ask-don’t waive” standstill provisions, and it adds detail on adviser engagement timing and valuation inputs used by Marshall & Stevens.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Fonar Corporation published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001193125-26-234914), on May 21, 2026, and is solely responsible for the information contained therein.