Maxim Labkowski
AVID Vital Services (Nasdaq: CDMO) to be acquired through funds managed by GHO Capital Partners and Ampersand Capital Partners through a cash deal valuing the company at approximately $1.1 billion.
Under the deal, GHO and Ampersand will acquire all of Avid’s (CDMO) outstanding shares for $12.50 per share in cash, representing a 13.8% premium over Avid’s (CDMO) closing price on November 6, the last trading session before the deal closes. He announced, according to a statement.
Avid (CDMO) said the deal assigns an enterprise value of approximately $1.1 billion to the company, or 6.3 times consensus revenue estimates for fiscal 2025. The deal is expected to close in the first quarter of 2025, and is subject to shareholder approval and regulatory approval.
Following the acquisition, the company will operate under the name Avid (CDMO), but its shares will not be traded on any public exchange.
Avid (CDMO) shares rose 12% Thursday on news of the deal.