ANI PHARMACEUTICALS INC (ANIP): M&A transaction — ANI Pharma closes Alimera Sciences acquisition; $5.50/sh cash plus CVRs

ANI PHARMACEUTICALS INC

Acquisition closed Sept 16, 2024; Alimera shareholders received $5.50 cash per share plus one CVR per share.
CVRs tied to net revenue of ILUVIEN and YUTIQ: $140M by FY2026, $160M by FY2027; max payout $0.25 per CVR per milestone.
Financed with $325M senior secured term loan from JPMorgan-led syndicate plus available cash.
Pro forma results show combined net loss of $3.4M for H1 2024 and $51.6M for FY2023.
Audited Alimera financials and unaudited pro forma combined statements filed as Exhibits 99.1-99.3.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

ANI PHARMACEUTICALS INC completed an acquisition involving Alimera Sciences, Inc. for $5.50 in cash, without interest and one contingent value right (closed 2024-09-16).

Action: acquisition
Counterparty: Alimera Sciences, Inc.
Consideration: $5.50 in cash, without interest and one contingent value right
Closing: 2024-09-16

Exact text from the filing

or shares owned by the Company, Merger Subs or any other subsidiary of the Company or Alimera), was canceled and ceased to exist and was converted into the right to receive (i) $5.50 in cash, without interest (the “ Closing Cash Consideration ”) and (ii) one contingent value right (a “ CVR ”), which represents the right to receive the Milestone Payments (as

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Source: SEC EDGAR

accession 0001023024-24-000093

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