Lifecore Biomedical to be Acquired by Webster Equity Partners for up to $663.7M
Lifecore Biomedical, Inc. has entered into a definitive agreement to be acquired by Webster Equity Partners for up to $663.7 million. Common stockholders will receive $6.28 per share in cash at closing, along with a contingent value right (CVR) per share. These CVRs provide the potential for additional cash payments up to an aggregate of $160 million, contingent upon achieving specific performance milestones in 2028, 2029, and 2030. The transaction, valued at up to $9.67 per common equivalent share assuming full CVR payments, is expected to close by the end of the fourth quarter of 2026, pending customary closing conditions including stockholder and regulatory approvals. Following the acquisition, Lifecore's common stock will be delisted from the Nasdaq.
Key Highlights
- Lifecore Biomedical to be acquired by Webster Equity Partners for up to $663.7 million.
- Common stockholders to receive $6.28 per share in cash at closing, plus one contingent value right (CVR) per share.
- Series A Preferred Stockholders to receive the 'Conversion Amount' in cash at closing, plus one CVR per share.
- CVRs offer potential for up to $160 million in aggregate cash payments based on performance milestones in 2028-2030.
- Total potential consideration could reach $9.67 per common equivalent share assuming full CVR payments.
- Transaction expected to close at the end of Q4 2026, subject to stockholder and regulatory approvals.
- Lifecore's common stock will be delisted from the Nasdaq Stock Market upon completion.
- A 30-day 'go-shop' period is included, allowing Lifecore to solicit superior acquisition proposals.
Price Impact
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