India, Jan. 28 -- Zimmer Biomet Holdings Inc. (ZBH) agreed to acquire all outstanding shares of common stock of Paragon 28 Inc. (FNA) for an upfront payment of $13.00 per share in cash, corresponding to an equity value of approximately $1.1 billion and an enterprise value of about $1.2 billion.
Paragon 28 shareholders will also receive a non-tradeable contingent value right (CVR) entitling the holder to receive up to $1.00 per share in cash if certain revenue milestones are achieved. The CVR will be payable in whole or in part if net sales exceed $346 million up to $361 million during Zimmer Biomet's fiscal year 2026.
The board of directors of each of Zimmer Biomet and Paragon 28 has unanimously approved the proposed transaction.
Zimmer ...