InsideArbitrage Event Driven Monitor – January 29, 2025
Merger Arbitrage
- FNA: The acquisition of Paragon 28, Inc. (FNA) by Zimmer Biomet Holdings, Inc. (ZBH), for a closing value of $1.2 billion. Under the terms of the agreement, Zimmer Biomet will acquire all outstanding shares of common stock of Paragon 28 for an upfront payment of $13.00 per share in cash. 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. (Press Release)
- EBTC: Independent Bank (INDB) filed Form S-4 for its acquisition of Enterprise Bancorp (EBTC). Independent and Enterprise expect the merger to close in the second half of 2025.
- MKFG, DM: Nano Dimension (NNDM) Interim CEO Julien Lederman stated that, due to ongoing regulatory inquiries and litigation involving Markforged (MKFG) and Desktop Metal (DM), “the timing or ability to consummate either or both mergers under their current terms” could be impacted.
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