M&A - Damadian Timothy Raymond

Form Type: SCHEDULE 13D

Filing Date: 2025-07-11

Corporate Action: Acquisition

Type: New

Accession Number: 000173112225000961

Filing Summary: On July 7, 2025, the Reporting Persons, led by Timothy Raymond Damadian, expressed their intent to enter discussions with the Board of Directors of FONAR Corporation regarding a 'going private transaction.' This involves acquiring securities of the Issuer not currently owned by them through a newly formed entity. The group submitted a non-binding proposal letter to the Board, outlining their intentions. The Reporting Persons have accumulated substantial shares of Common Stock, with Damadian holding approximately 1.9% and Jevan Damadian approximately 1.3% of the total acceptable shares. The document also reveals that the Reporting Persons plan to engage in continuous dialogue with relevant parties regarding the Issuer and this potential transaction. Furthermore, various shares have been acquired through personal funds and inheritance, reflecting a mix of personal investment strategies and benefits from the previous leadership of the company.