M&A · Healthcare · Pharmaceutical Preparations
Aytu Bioscience, Inc to acquire Neos Therapeutics, Inc.
Announced Dec 10, 2020 · Closed Mar 19, 2021
Deal value—
Premium—To unaffected price
EV / Adj. EBITDA—
ConsiderationAll stock
Transaction
- Acquirer
- Aytu Bioscience, Inc (AYTU)
- Target
- Neos Therapeutics, Inc.
- Buyer type
- Strategic
- Offer price per share
- —
- Enterprise value
- —
- Status
- Closed Mar 19, 2021
Deal protections
- Break fee (target pays)
- $2.0M
- Reverse fee (buyer pays)
- —
- Go-shop
- No-shop
- Financing
- —
Advisors
- To the acquirer
- TD Cowen
- To the target
- MTS Health Partners
- TD Cowen fee
- $1.5M
Classification
- Sector
- Healthcare
- Industry
- Pharmaceutical Preparations
Timeline
- AnnouncedDec 10, 2020
- Proxy filedFeb 9, 2021
- Definitive proxyFeb 9, 2021
- Shareholder voteMar 18, 2021
- ClosedMar 19, 2021
Valuation · fairness opinions
Trading comparables$0.28$1.99
Trading comparables$0.35$2.16
Trading comparables$4.76$9.85
Trading comparables$5.15$10.39
Trading comparables$0.79$2.64
Implied value per Neos Therapeutics, Inc. share by analysis, from TD Cowen · DCF discount rate 16%–18%.