BioCentury
ARTICLE | Company News

Alexza, Ferrer deal

May 23, 2016 7:00 AM UTC

Grupo Ferrer’s Ferrer Pharma subsidiary will acquire Alexza for $0.90 per share in cash. The deal values Alexza at $19.6 million based on 21.7 million shares outstanding on May 11. Alexza shareholders will also receive one contingent value right (CVR) per share held. The CVR is tied to four licensing and revenue milestones and is valued at up to $35 million. The $0.90 per share price is a 210% premium to Alexza’s close of $0.29 on Feb. 26, the day before a non-binding letter of intent for the deal was issued, and a 67% premium to Alexza’s close of $0.54 on May 9, the day before the deal was announced. ...