Alimera Sciences To Be Acquired By ANI Pharma For $381 Mln; Stock Up

(RTTNews) - Monday, Alimera Sciences, Inc. (ALIM) announced an agreement to be acquired by ANI Pharmaceuticals, Inc. (ANIP) for approximately $381 million. ALIM stock is currently up 77% on the Nasdaq.

The deal includes an upfront payment of $5.50 per share in cash upon closing, as well as a contingent value right that can yield shareholders up to $0.50 per share based on specific net revenue targets in 2026 and 2027.

The merger with Alimera will enable ANI to expand its global presence by incorporating Alimera's marketing operations in Germany, the United Kingdom, Portugal, and Ireland, as well as its partnerships across Europe, Asia, and the Middle East. Additionally, the merger will encompass Alimera's two commercial products Iluvien, used for diabetic macular edema, and Yutiq, which treats NIU-PS of the eye.

The transaction is expected to close in the latter part of the third quarter of 2024, pending standard closing conditions, regulatory approvals, and shareholder consent from Alimera.

ALIM is trading on the Nasdaq at 5.58$, up 77.14% or $2.43 per share. It has traded between $2.60 and $5.65 in the past 52-week period.