Core Viewpoint - FONAR Corporation's Board of Directors has received a non-binding proposal from a Proposed Acquisition Group led by Timothy Damadian to acquire all outstanding shares of FONAR not currently owned by the group, with an anticipated premium of at least 10% over the average closing market price for the 90 trading days prior to July 1, 2025 [1][2]. Group 1: Proposal Details - The Proposed Acquisition Group currently owns approximately 5.01% of FONAR's outstanding stock [1]. - A special committee of independent directors has been established to review the proposal and determine the best course of action for the company and its shareholders [2]. Group 2: Company Background - FONAR, incorporated in 1978 and went public in 1981, is recognized as the inventor of MR Scanning and has a long history in the MRI industry [5]. - The company's flagship product is the FONAR UPRIGHT® Multi-Position™ MRI, which allows for imaging in various weight-bearing positions, providing advantages over traditional lie-down MRI scanners [6][8]. Group 3: Technological Innovations - FONAR is developing new technology to visualize and quantify cerebrospinal fluid dynamics, which could benefit patients with neck injuries [9]. - The company holds numerous patents related to its MRI technology, including those for full weight-bearing imaging [11].