Gurnet Point and Novo Holdings to acquire Paratek

6 June 2023

USA-based Paratek Pharmaceuticals (Nasdaq: PRTK) saw its shares leap almost 14% to $2.22 by mid-morning today, after it revealed it has entered into a definitive agreement to be acquired by Gurnet Point Capital and Novo Holdings.

The proposed transaction is valued at around $462 million, including the assumption of debt and assuming full payment of a Contingent Value Right (CVR). Debt financing of $175 million for this transaction will be provided by funds managed by Oaktree Capital Management.

Paratek is a commercial-stage biopharmaceutical company focused on the development and commercialization of novel therapies for life-threatening diseases and other public health threats.

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