M&A · Healthcare · Pharmaceutical Preparations
XOMA Corp to acquire Kinnate Biopharma Inc.
Announced Feb 16, 2024 · Closed Apr 3, 2024
Deal value$122MEV $70M
Premium49.0%To unaffected price
EV / Adj. EBITDA—
ConsiderationAll cash$2.59 per share
Transaction
- Acquirer
- XOMA Corp
- Target
- Kinnate Biopharma Inc.
- Buyer type
- Strategic
- Offer price per share
- $2.59
- Enterprise value
- $70M
- Status
- Closed Apr 3, 2024
Deal protections
- Break fee (target pays)
- $3.5M · 2.9%
- Reverse fee (buyer pays)
- —
- Go-shop
- No-shop
- Financing
- No financing condition
Advisors
- To the acquirer
- Not disclosed
- To the target
- Leerink Partners, Lazard
Sector context · Healthcare
- Comparable deals
- 104 in the prior 24 months
- Premium
- 49.0% vs. 52.0% sector median
- EV / Adj. EBITDA
- Sector median 17.3x
- Break fee
- 2.9% vs. 3.5% sector median
Timeline
- AnnouncedFeb 16, 2024
- Tender offerMar 4, 2024
- ClosedApr 3, 2024