Marinus Pharmaceuticals, Inc. ( MRNS ) shares are trading higher on Monday after the company entered into a merger agreement to be acquired by Immedica Pharma AB, implying an enterprise value of approximately $151 million.

As per the deal, Immedica will launch a tender offer through a wholly owned subsidiary to acquire all outstanding shares of Marinus common stock at $0.55 per share in cash.

This represents a 48% premium over Marinus’ December 27 closing price and a 97% premium over the 30-day volume-weighted average price of $0.28.

The transaction represents the consummation of Marinus’ review of strategic alternatives, which it announced in October.

Marinus’ Board of Directors has unanimously approved the deal and recommended that stockholders tender their shares.

Following the successful tender, Immedica will acquire any remaining shares through a second-step merger at the same per-share price. The deal is anticipated to close in the first quarter of 2025.

The acquisition grants Immedica global rights to ZTALMY, a commercial-stage rare neurology medicine approved by the FDA, European Commission, UK MHRA, and China’s NMPA, with potential for additional approvals worldwide.

The deal is expected to drive Immedica’s revenue growth by adding a U.S.-based commercial asset with global expansion potential.

Scott Braunstein, Chairman and Chief Executive Officer of Marinus, stated, “With a shared commitment to improving the lives of rare disease patients, this acquisition is expected to enable ZTALMY to make an even greater impact on patients, while providing meaningful value for Marinus’ stockholders.”

Price Action: MRNS shares are up 42.1% at $0.5279 at the last check Monday.

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