Biotech Values

[DewDiligence]

PRTK taken private @$2.15/sh cash +CVR:

https://www.globenewswire.com/news-release/2023/06/06/2682916/33636/en/Paratek-Pharmaceuticals-to-be-Acquired-by-Gurnet-Point-Capital-and-Novo-Holdings.html

Under the terms of the merger agreement, Gurnet Point, a leading healthcare investment firm, and Novo Holdings, a holding and investment company responsible for managing the assets and wealth of the Novo Nordisk Foundation, will acquire all outstanding shares of Paratek for $2.15 per share in cash, plus a CVR of $0.85 per share payable upon the achievement of $320 million in U.S. NUZYRA net sales…in any calendar year ending on or prior to December 31, 2026.

The buyout price (excluding the CVR) is a 41% premium to PRTK’s “unaffected” closing price on 5/31/23. The nominal deal value (excluding the CVR) is $330M.