M&A · Healthcare · Pharmaceutical Preparations
Paratek Pharmaceuticals, Inc. to acquire OptiNose, Inc.
Announced Mar 19, 2025 · Closed May 21, 2025
Deal value$330MEV $330M
Premium50.0%To unaffected price
EV / Adj. EBITDA—4.4x EV / Revenue
ConsiderationAll cash$9.00 per share
Transaction
- Acquirer
- Paratek Pharmaceuticals, Inc.
- Target
- OptiNose, Inc. (OPTN)
- Buyer type
- Strategic
- Offer price per share
- $9.00
- Enterprise value
- $330M
- Status
- Closed May 21, 2025
Deal protections
- Break fee (target pays)
- $4.5M · 1.4%
- Reverse fee (buyer pays)
- $7.8M · 2.3%
- Go-shop
- No-shop
- Financing
- No financing condition
Advisors
- To the acquirer
- Lazard
- To the target
- Evercore
- Evercore fee
- $5.0M
Sector context · Healthcare
- Comparable deals
- 93 in the prior 24 months
- Premium
- 50.0% vs. 66.5% sector median
- EV / Adj. EBITDA
- Sector median 13.8x
- Break fee
- 1.4% vs. 3.5% sector median
Timeline
- AnnouncedMar 19, 2025
- Proxy filedApr 3, 2025
- Definitive proxyApr 15, 2025
- Shareholder voteMay 16, 2025
- ClosedMay 21, 2025
Valuation · fairness opinions
Discounted cash flow$6.96$9.14
Trading comparables$8.19$18.99
Trading comparables$8.20$22.59
Precedent transactions$10.01$15.98
Premiums paid$8.82$11.76
Offer $9.00
Implied value per OptiNose, Inc. share by analysis, from Evercore · DCF discount rate 16%–20%.