Shockwave to acquire Neovasc in $100M deal
Santa Clara, CA, January 17, 2023 (RTTNews) -- Shockwave Medical, Inc. (SWAV) has entered into a definitive agreement to acquire Neovasc Inc. (NVCN). Shockwave will acquire all outstanding Neovasc shares for an upfront cash payment of $27.25 per share, corresponding to an enterprise value of approximately $100 million. Neovasc shareholders will also receive a potential deferred payment in the form of a non-tradable contingent value right entitling the holder to receive up to an additional $12 per share in cash if certain regulatory milestones are achieved. The Board of Neovasc has unanimously approved the arrangement. The transaction will be implemented by way of a court-approved plan of arrangement.
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