- Canadian healthcare company Searchlight Pharma is set to acquire Nuvo Pharmaceuticals, doing business as Miravo Healthcare, ( OTCQX:MRVFF ) ( TSX: MRV:CA ).
- The two companies have entered into a definitive agreement for the acquisition of all of the issued and outstanding shares of MRVFF in exchange for a cash consideration of $1.35 per share.
- The purchase price represents a total equity value, on a fully diluted basis, of ~$15.8M and a total enterprise value of ~$91.4M.
- The per share consideration represents a 79.8% premium to the 90-day volume-weighted average trading price on the Toronto Stock Exchange for the period ended Dec. 22.
- The board has concluded that the transaction is in the best interests of MRVFF and is fair to its shareholders.
- The transaction is expected to close in Q1'23.
- Source: Press Release
For further details see:
Searchlight Pharma to acquire Nuvo Pharmaceuticals or Miravo Healthcare