Esperion Therapeutics (NASDAQ:ESPR) shares are up on Monday as the company is set to go private via a $1.1 billion deal with Archimed.
The acquisition will provide Esperion shareholders with $3.16 per share in cash at closing. Potential milestone payments are tied to future sales performance.
Esperion shareholders will receive $3.16 per share in cash plus one non-tradeable contingent value right (CVR), representing a premium of 58% to the stock’s closing price on April 30.
The transaction is expected to close soon, according to the May 1 announcement.
The CVR will entitle the shareholder to participate in two contingent milestone payments of up to $100 million in the aggregate as follows:
- A contingent milestone payment based on annual U.S. net sales of certain products containing bempedoic acid in calendar year 2027.
- A contingent milestone payment based on annual U.S. net sales of certain products containing bumetanide equal to $60 million in the aggregate if such annual net sales equal or exceed $160 million in any single calendar year through December 31, 2030.
In March, Esperion Therapeutics agreed to acquire Corstasis Therapeutics, which developed Enbumyst, the first FDA-approved nasal spray diuretic for treating edema associated with congestive heart failure.
The deal includes an upfront cash payment of $75 million, along with potential royalties and milestone payments that could total up to $180 million.
ESPR Stock Price Activity: Esperion Therapeutics shares were trading at $3.10 at the time of publication on Monday, according to Benzinga Pro data.
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