M&A · Healthcare · Pharmaceutical Preparations
Syros Pharmaceuticals, Inc. to acquire Tyme Technologies, Inc.
Announced Jul 5, 2022 · Closed Sep 16, 2022
Deal value—
Premium—To unaffected price
EV / Adj. EBITDA—
ConsiderationAll stock
Transaction
- Acquirer
- Syros Pharmaceuticals, Inc. (SYRS)
- Target
- Tyme Technologies, Inc. (TYME)
- Buyer type
- Strategic
- Offer price per share
- —
- Enterprise value
- —
- Status
- Closed Sep 16, 2022
Deal protections
- Break fee (target pays)
- $2.4M
- Reverse fee (buyer pays)
- $2.1M
- Go-shop
- No-shop
- Financing
- —
Advisors
- To the acquirer
- Piper Sandler
- To the target
- Moelis
Sector context · Healthcare
- Comparable deals
- 49 in the prior 24 months
- Premium
- Sector median 47.0%
- EV / Adj. EBITDA
- Sector median 20.4x
- Break fee
- Sector median 3.4%
Timeline
- AnnouncedJul 5, 2022
- Proxy filedAug 9, 2022
- Definitive proxyAug 9, 2022
- Shareholder voteSep 15, 2022
- ClosedSep 16, 2022
Valuation · fairness opinions
Discounted cash flowPiper Sandler$0.69$5.66
Discounted cash flowMoelis$0.28$0.29
Discounted cash flowMoelis$0.42$0.54
Discounted cash flowMoelis$0.31$0.32
Discounted cash flowMoelis$0.10$0.16
Implied value per Tyme Technologies, Inc. share by analysis, from Piper Sandler and Moelis.