M&A · Healthcare · Pharmaceutical Preparations
Pyxis Oncology, Inc. to acquire Apexigen, Inc.
Announced May 24, 2023 · Closed Aug 23, 2023
Deal value$16MEV $16M
Premium—To unaffected price
EV / Adj. EBITDA—
ConsiderationAll stock$0.64 per share
Transaction
- Acquirer
- Pyxis Oncology, Inc. (PYXS)
- Target
- Apexigen, Inc. (APGN)
- Buyer type
- Strategic
- Offer price per share
- $0.64
- Enterprise value
- $16M
- Status
- Closed Aug 23, 2023
Deal protections
- Break fee (target pays)
- $0.6M · 3.6%
- Reverse fee (buyer pays)
- —
- Go-shop
- No-shop
- Financing
- —
Advisors
- To the acquirer
- Not disclosed
- To the target
- Ladenburg Thalmann
Sector context · Healthcare
- Comparable deals
- 81 in the prior 24 months
- Premium
- Sector median 50.0%
- EV / Adj. EBITDA
- Sector median 19.3x
- Break fee
- 3.6% vs. 3.5% sector median
Timeline
- AnnouncedMay 24, 2023
- Proxy filedJun 30, 2023
- Definitive proxyJun 30, 2023
- Shareholder voteAug 22, 2023
- ClosedAug 23, 2023