Nevro Corp (NVRO) entered into a Cooperation Agreement with Engaged Capital
Key Summary: On Dec 11, 2023, Engaged Capital (6%) announced ongoing talks with the Board and management to enhance shareholder value. On Feb 21, 2024, a Cooperation Agreement was signed with Engaged Capital, appointing Kirt P. Karros to the Board and Audit Committee effective Feb 20, 2024Market Cap: $568 million | Nevro Corp., a medical device company, provides products for patients suffering from chronic pain in the United States and internationally.
Background
On December 11, 2023, Engaged Capital (6%) stated that it has engaged, and intends to continue to engage, in communications with the Board and management team regarding opportunities to maximize stockholder value. Source
Update
On February 21, 2024, the company entered into a Cooperation Agreement with Engaged Capital pursuant to which Kirt P. Karros has been appointed to the Board as well as the Audit Committee of the Board effective February 20, 2024. Source