M&A · Industrials · Services-Business Services, NEC
Commure, Inc. to acquire Augmedix, Inc.
Announced Jul 19, 2024 · Closed Oct 2, 2024
Deal value$139MEV $123M
Premium—To unaffected price
EV / Adj. EBITDA—2.5x EV / Revenue
ConsiderationAll cash$2.35 per share
Transaction
- Acquirer
- Commure, Inc.
- Target
- Augmedix, Inc. (AUGX)
- Buyer type
- Strategic
- Offer price per share
- $2.35
- Enterprise value
- $123M
- Status
- Closed Oct 2, 2024
Deal protections
- Break fee (target pays)
- $5.2M · 3.8%
- Reverse fee (buyer pays)
- —
- Go-shop
- Go-shop
- Financing
- No financing condition
Advisors
- To the acquirer
- Morgan Stanley
- To the target
- Evercore
- Evercore fee
- $4.0M
Sector context · Industrials
- Comparable deals
- 82 in the prior 24 months
- Premium
- Sector median 36.0%
- EV / Adj. EBITDA
- Sector median 9.4x
- Break fee
- 3.8% vs. 2.8% sector median
Timeline
- AnnouncedJul 19, 2024
- Proxy filedAug 19, 2024
- Definitive proxyAug 29, 2024
- Shareholder voteSep 27, 2024
- ClosedOct 2, 2024
Valuation · fairness opinions
Discounted cash flow$1.80$2.61
Trading comparables$1.13$1.73
Trading comparables$1.28$2.03
Precedent transactions$1.08$2.15
Analyst price targets$1.50$3.50
Offer $2.35
Implied value per Augmedix, Inc. share by analysis, from Evercore · DCF discount rate 18%–22%.