Vapotherm to go private by way of a merger
Vapotherm (OTCQX:VAPO) signed a merger agreement with a newly-formed entity organized and funded by an affiliate of Perceptive Advisors, a health care investment firm, and its Perceptive Discovery Fund.
Concurrently, investment affiliates managed by SLR Capital Partners have agreed to convert ~$81M of term debt into preferred equity of the newly-formed entity, and Perceptive will invest $50M of new preferred equity capital into the business. SLR will retain $40M of term debt.
Under the terms of the definitive merger agreement, Vapotherm's stockholders will receive $2.18 in cash for each share.
The merger consideration of $2.18 per share represents a premium of ~166% over the closing price of Vapotherm common stock on June 14, 2024, the last trading day prior to public disclosure of the transaction.
The transaction is expected to close in H2 2024.