TPG Capital Management LP closed its merger with Exactech Inc. with the acquisition of Exactech's issued and outstanding common stock for a total transaction value of about $737 million.

Exactech shareholders will receive $49.25 in cash for each Exactech common share they hold, other than certain shares held by the company's founders and certain management shareholders.

Exactech's founders, CEO and certain other management shareholders have exchanged a portion of their shares in the transaction, representing about 18.8% of the Exactech's outstanding common stock, for new equity securities in the post-closing ownership of the company at a valuation equal to or less than $49.25 per share.

As a result of the transaction, Exactech's common stock will cease trading on the Nasdaq immediately before market open Feb. 15 and will no longer be listed on the Nasdaq.

Greenberg Traurig PA and Greenberg Traurig LLP are acting as Exactech's legal adviser. J.P. Morgan Securities LLC is acting as financial adviser to Exactech. Ropes & Gray LLP is acting as legal adviser to TPG Capital.