VERU INC. (VERU): M&A transaction — Veru sells ENTADFI assets to Blue Water Vaccines for $20M upfront + up to $80M milestones

VERU INC.

Asset purchase closed April 19, 2023; buyer paid $6M at closing, owes $4M in FY2023 and $10M in FY2024.
Potential milestone payments of $10M/$20M/$50M if annual net sales reach $100M/$200M/$500M.
Buyer assumed 6% royalty on ENTADFI sales and up to $22.5M in milestone obligations from Camargo agreement.
Veru sold substantially all ENTADFI assets, including IP, regulatory approvals, inventory, and contracts.
Deal shifts Veru's focus away from ENTADFI; milestone payments uncertain.

item 1.01 item 2.01 item 9.01

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

VERU INC. completed a disposition involving Blue Water Vaccines Inc. for $20.0 million (closed 2023-04-19).

Action: disposition
Counterparty: Blue Water Vaccines Inc.
Consideration: $20.0 million
Closing: 2023-04-19

Exact text from the filing

purchased substantially all of the assets related to the Company’s ENTADFI ® business. The transaction closed on April 19, 2023. The purchase price for the transaction was $20.0 million, consisting of $6.0 million paid at closing, an additional $4.0 million the Purchaser is obligated to pay the Company in the Company’s fiscal year 2023 and an additional $10

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

VERU INC. entered into Asset Purchase Agreement with Blue Water Vaccines Inc. valued at $20.0 million purchase price: $6.0 million closing, $4.0 million fiscal 2023, $10 million fiscal 202 (effective 2023-04-19).

Action: entry
Agreement: asset purchase
Counterparty: Blue Water Vaccines Inc.
Value: $20.0 million purchase price: $6.0 million closing, $4.0 million fiscal 2023, $10 million fiscal 202
Effective: 2023-04-19

Exact text from the filing

On April 19, 2023, the Company entered into an Asset Purchase Agreement (the “Purchase Agreement”) with Blue Water Vaccines Inc. (the “Purchaser”).

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15 m&a transactions filed in the last 30 days. Browse all m&a transactions →

VERU INC. filing history →

Source: SEC EDGAR

accession 0001193125-23-107340

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