TherapeuticsMD Inc (NASDAQ:TXMD) shares are surging Tuesday after the company announced it has entered into a definitive merger agreement to be acquired by an affiliate of EW Healthcare Partners.
EW Healthcare Partners will commence a tender offer to acquire all outstanding shares of TherapeuticsMD common stock for $10 per share in an all-cash transaction, which will be followed immediately by a merger under the terms of the transaction. The transaction implies a total enterprise value of approximately $177 million.
Upon completion of the transaction, TherapeuticsMD will become a privately held company. The transaction is expected to be completed on or before July 13.
TherapeuticsMD is a drug manufacturer with a focus on creating and commercializing products designed exclusively for women.
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TXMD Price Action: TherapeuticsMD has traded between 15 cents and $6.55 over a 52-week period.
The stock was up 343.2% at $9.49 at press time, according to data from Benzinga Pro.
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