Paratek Pharmaceuticals Files Definitive Proxy Statement And Letter To Stockholders In Connection With Acquisition By Gurnet Point Capital And Novo Holdings
Portfolio Pulse from Happy Mohamed
Paratek Pharmaceuticals (NASDAQ:PRTK) has filed definitive proxy materials and a letter to its stockholders regarding its acquisition by Gurnet Point Capital and Novo Holdings. Stockholders will receive an upfront cash payment of $2.15 per share and a Contingent Value Right of $0.85 per share on achievement of a commercial milestone. The transaction represents a 41% premium over the closing price of Paratek's common stock as of May 31, 2023. The company warns that without this transaction, it could face bankruptcy.
August 04, 2023 | 12:30 pm
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Paratek Pharmaceuticals is to be acquired by Gurnet Point Capital and Novo Holdings, providing immediate value and liquidity to its stockholders. Without this transaction, the company could face bankruptcy.
The acquisition provides immediate value and liquidity to Paratek's stockholders, representing a 41% premium over the closing price of the company's common stock as of May 31, 2023. Without this transaction, the company warns it could face bankruptcy, which would likely have a negative impact on the stock price.
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