- TherapeuticsMD (NASDAQ:TXMD) stock is rising on news of an acquisition.
- This will have EW Healthcare Partners acquiring it for $10 per share.
- The deal has a total value of $177 million.
The deal has EW Healthcare Partners planning a tender offer that will see it buying all outstanding shares of TXMD stock for $10 each in cash. This represents a 367.3% premium to the stock’s closing price on Friday.
It’s worth noting that this tender offer has a total value of $177 million. EW Healthcare Partners plans to enact a merger once the offer is complete. It will also acquire all shares not acquired in the tender offer for the same $10 price.
Evis Hursever, Managing Director at EW Healthcare Partners, said the following in the press release boosting TXMD stock higher today.
“EW Healthcare Partners has already made a significant investment in women’s health through its acquisition of Majorelle. TherapeuticsMD represents a unique opportunity for Majorelle to enter the US market and is a perfect fit with our ambitious plans to create a fast-growing, premier trans-Atlantic women’s health platform.”
The Board of Directors at TherapeuticsMD has already given its unanimous support to the deal with EW Healthcare Partners. So long as there are no issues, it should close on or before July 13, 2022.
TXMD stock is seeing heavy trading today following the acquisition news. This has some 5 million shares of the company’s stock on the move. That’s well above its daily average trading volume of about 693,000 shares.
TXMD stock is up 361.9% as of Tuesday morning.
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.