Shareholders will receive $3.16 per share in cash at closing — a 58% premium — plus contingent payments of up to $100 million
Esperion Therapeutics has agreed to be acquired by healthcare investment firm ARCHIMED in a go-private transaction valued at up to about $1.1 billion, the companies said Friday.
Each Esperion share will fetch $3.16 in cash — 58% above the stock's April 30 closing price — along with a non-tradeable contingent value right carrying potential additional payments of up to $100 million, contingent on hitting future sales benchmarks. Esperion stock was up more than 55% in morning trading.
The contingent payments depend on two milestones. The first is a $40 million payout if combined U.S. net sales of Nexletol and Nexlizet exceed $350 million in 2027. The second is a $60 million payout if Enbumyst, a nasal spray, reaches more than $160 million in annual U.S. net sales before the end of 2030.
The deal was unanimously approved by the board, and directors are encouraging shareholders to vote in favor. The companies expect to close the transaction in the third quarter of 2026, pending shareholder approval and regulatory reviews. Pharmakon Advisors will provide debt financing, and the deal does not depend on securing additional financing.
Once the deal closes, Esperion will be delisted from the Nasdaq $NDAQ Stock Market and operate as a privately held company.
"This transaction marks an exciting new chapter for Esperion, our employees, and the patients and healthcare professionals we serve," Esperion CEO Sheldon Koenig said in a statement. "With ARCHIMED's support, we believe Esperion will be well positioned to advance our Vision 2040 strategy and continue addressing the global burden of cardiometabolic disease."
Justin Bateman, a partner at ARCHIMED, said in a statement that the firm sees "a strong foundation from which to continue building in cardiovascular and primary care markets."
Founded in 2008 and based in Ann Arbor, Michigan, Esperion markets two oral, non-statin therapies — Nexletol and Nexlizet — that target LDL cholesterol to reduce the risk of cardiovascular disease. For the full year 2025, Esperion brought in $403.1 million in revenue, with the fourth quarter contributing $168.4 million of that total, Reuters reported.
ARCHIMED manages €9 billion across its funds and maintains offices in Europe, North America, and Asia.
Moelis & Company is serving as financial advisor to ARCHIMED, with Sidley Austin as legal counsel. Centerview Partners is advising Esperion, with Goodwin Procter as legal counsel.
