Esperion Therapeutics, Inc. (ESPR) shares surged 56.25 percent to $3.1250 on Friday, gaining $1.1250, after the company announced a definitive acquisition agreement.
The stock is currently trading at $3.1250, compared to its previous close of $2.0000 on the Nasdaq. It opened at $3.1350 and has traded in a narrow range of $3.1200 to $3.1400, with volume spiking to 90,131,752 shares.
The funds managed by ARCHIMED will acquire Esperion in a deal valued at up to approximately $1.1 billion. Under the terms, shareholders will receive $3.16 per share in cash at closing, representing a 58 percent premium to the prior closing price, along with potential additional milestone payments of up to $100 million tied to future sales performance.
The stock has traded between $0.6900 and $4.1800 over the past 52 weeks.
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