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Wright Medical Group Inc. Message Board

  • hoovesmalone2001us hoovesmalone2001us Aug 9, 2013 11:46 AM Flag

    WMGIZ Info

     

    It should trade to at least $1.50 today

    Acquisition by Wright Medical Group, Inc. (continued)

    In connection with the Merger Agreement, Wright and a trustee mutually agreeable to the Company and Wright will enter into an agreement governing the terms of the CVRs. A holder of a CVR will be entitled to receive the following cash payments, conditioned upon the achievement of certain milestones as follows:

    • Approval Milestone: Wright would be obligated to pay $3.50 per CVR upon FDA approval of Augment on or before the sixth anniversary of the closing of the Merger.

    • Product Sales Milestone #1: Wright would be obligated to pay $1.50 per CVR the first time sales of specified products exceed $40,000,000 during a consecutive 12-month period.

    • Product Sales Milestone #2: Wright would be obligated to pay $1.50 per CVR the first time sales of specified products exceed $70,000,000 during a consecutive 12 month period.
    The latter two sales milestone payments cannot be made sooner than 24 and 36 months post-closing of the transaction, respectively. The transaction closed on March 1, 2013. See Note 20.

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WMGI
26.09-0.07(-0.27%)Jul 29 4:00 PMEDT