M&A · Healthcare · Pharmaceutical Preparations
CoreRx, Inc. to acquire Societal CDMO, Inc.
Announced Feb 28, 2024 · Closed Apr 8, 2024
Deal value$115MEV $147M
Premium117.0%To unaffected price
EV / Adj. EBITDA14.5x1.6x EV / Revenue
ConsiderationAll cash$1.10 per share
Transaction
- Acquirer
- CoreRx, Inc.
- Target
- Societal CDMO, Inc.
- Buyer type
- Strategic
- Offer price per share
- $1.10
- Enterprise value
- $147M
- Status
- Closed Apr 8, 2024
Deal protections
- Break fee (target pays)
- $5.0M · 4.3%
- Reverse fee (buyer pays)
- —
- Go-shop
- No-shop
- Financing
- No financing condition
Advisors
- To the acquirer
- Not disclosed
- To the target
- Raymond James
Sector context · Healthcare
- Comparable deals
- 106 in the prior 24 months
- Premium
- 117.0% vs. 52.0% sector median
- EV / Adj. EBITDA
- 14.5x vs. 17.3x sector median
- Break fee
- 4.3% vs. 3.5% sector median
Timeline
- AnnouncedFeb 28, 2024
- Tender offerMar 11, 2024
- ClosedApr 8, 2024