M&A
confidence high
sentiment neutral
materiality 0.70
Esperion acquires Corstasis for $83.4M, financed via $25M loan and $50M royalty sale
Esperion Therapeutics, Inc.
- Total acquisition cost $83.4M: $77.5M cash to Corstasis plus $5.9M direct transaction costs.
- Acquired developed product intangible Enbumyst valued at $77.1M, amortized over 10 years.
- Financing: $25M term loan at 9.75% (effective ~10.5%) and $50M royalty sale to Athyrium with $100M cap.
- Pro forma net loss for 2025 increases to $47.1M from $22.7M historical; no goodwill recognized.