Webster Equity Partners has agreed to acquire Nasdaq-listed Lifecore Biomedical in a take-private merger, according to a report dated 28 September 2026.
Under the agreed terms, Lifecore shareholders will receive $6.28 per share in upfront cash, plus contingent value rights linked to up to $160 million of milestone payments. The upfront cash price represents a 49.5% premium to Lifecore's closing share price on 25 September 2026, the last full trading day before signing. If all CVR milestones are achieved, aggregate potential consideration reaches $9.67 per share or common stock equivalent, implying a 130.2% premium to that same reference price.
The source describes Lifecore as a fully integrated CDMO focused on sterile injectable development, fill and finish across syringes, vials and cartridges, including complex formulations.
On the structure, the source states that upfront cash gives shareholders certainty, while the CVR shifts part of the valuation debate onto future performance rather than today's price. It notes that the key execution question is whether Lifecore's future milestones justify the contingent component, and that until then the headline premium is not the same as guaranteed cash consideration.
The deal stage is agreed. No closing date, financing mix or adviser details were provided in the source material.