M&A · Healthcare · Pharmaceutical Preparations
Gurnet Point Capital and Novo Holdings A/S to acquire Paratek Pharmaceuticals, Inc.
Announced Jun 6, 2023 · Closed Sep 21, 2023
Deal value$462MEV $462M
Premium41.0%To unaffected price
EV / Adj. EBITDA—2.8x EV / Revenue
ConsiderationAll cash$2.15 per share
Transaction
- Acquirer
- Gurnet Point Capital and Novo Holdings A/S
- Target
- Paratek Pharmaceuticals, Inc. (PRTK)
- Buyer type
- Strategic
- Offer price per share
- $2.15
- Enterprise value
- $462M
- Status
- Closed Sep 21, 2023
Deal protections
- Break fee (target pays)
- $4.9M · 1.1%
- Reverse fee (buyer pays)
- $6.8M · 1.5%
- Go-shop
- No-shop
- Financing
- No financing condition
Advisors
- To the acquirer
- Lazard
- To the target
- Moelis
- Moelis fee
- $1.0M
Sector context · Healthcare
- Comparable deals
- 81 in the prior 24 months
- Premium
- 41.0% vs. 50.0% sector median
- EV / Adj. EBITDA
- Sector median 19.3x
- Break fee
- 1.1% vs. 3.5% sector median
Timeline
- AnnouncedJun 6, 2023
- Proxy filedJun 30, 2023
- Definitive proxyAug 2, 2023
- Shareholder voteSep 18, 2023
- ClosedSep 21, 2023
Valuation · fairness opinions
Other analysis$2.15$2.69
Discounted cash flow$0.37$0.41
Discounted cash flow$0.80$1.40
Discounted cash flow$2.15$2.69
Trading comparables$0.30$1.85
Offer $2.15
Implied value per Paratek Pharmaceuticals, Inc. share by analysis, from Moelis.