By Dean Seal
Marinus Pharmaceuticals has agreed to be acquired by Immedica Pharma AB for 55 cents a share, which would value the company at more than $30 million.
The Stockholm-based Immedica said Monday that it would launch a cash tender offer for Marinus shares at 55 cents a piece, a substantial premium to the stock's closing price of 37 cents last week.
Shares surged 43% to 53 cents in early trading.
Marinus currently has 55.2 million shares outstanding, according to FactSet, which would put the deal price at under $30.4 million. Immedica said the implied enterprise value of the transaction is about $151 million.
Immedica said the acquisition would add Marinus' FDA-approved seizure treatment, Ztalmy, to the portfolio of its global rare disease business and immediately accelerate revenue growth.
Marinus said back in October that it was exploring strategic alternatives. The company's directors and named executive officers have already tendered their respective shares in favor of the transaction.
The deal is expected to close in the first quarter of 2025.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
December 30, 2024 07:43 ET (12:43 GMT)
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