M&A · Healthcare · Biological Products, (No Diagnostic Substances)
Syncona Portfolio Ltd to acquire Applied Genetic Technologies Corp
Announced Oct 23, 2022 · Closed Dec 1, 2022
Deal value$24M
Premium42.0%To unaffected price
EV / Adj. EBITDA—
ConsiderationAll cash$0.34 per share
Transaction
- Acquirer
- Syncona Portfolio Ltd
- Target
- Applied Genetic Technologies Corp (AGTC)
- Buyer type
- Strategic
- Offer price per share
- $0.34
- Enterprise value
- —
- Status
- Closed Dec 1, 2022
Deal protections
- Break fee (target pays)
- $1.5M · 6.4%
- Reverse fee (buyer pays)
- —
- Go-shop
- No-shop
- Financing
- No financing condition
Advisors
- To the acquirer
- BTIG
- To the target
- MTS Health Partners
Sector context · Healthcare
- Comparable deals
- 67 in the prior 24 months
- Premium
- 42.0% vs. 47.0% sector median
- EV / Adj. EBITDA
- Sector median 17.4x
- Break fee
- 6.4% vs. 3.4% sector median
Timeline
- AnnouncedOct 23, 2022
- Tender offerOct 26, 2022
- ClosedDec 1, 2022