Why Castlight Health Stock Is Soaring Today

Shares of Castlight Health (NYSE: CSLT) were soaring 24.5% higher at 12:02 p.m. ET on Wednesday. The big gain came after the company announced that it plans to combine with Vera Whole Health in a deal that will take Castlight private.

Vera Whole Health offered $370 million in cash to buy Castlight at $2.05 per share. This represents a 25% premium to the closing price of the healthcare stock as of Jan. 4, 2022, and it is 35% higher than the 30-day volume-weighted average share price. 

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Source Fool.com