Paratek plans $175 million of debt financing via Oaktree for buyout

By Sara Rosenberg

New York, June 7 – Paratek Pharmaceuticals Inc. has received a commitment for $175 million of debt financing from Oaktree Capital Management LP to help fund its acquisition by Gurnet Point Capital and Novo Holdings A/S, according to an 8-K filed with the Securities and Exchange Commission on Wednesday.

Under the agreement, Paratek is being bought for $2.15 per share in cash, plus a contingent value right of $0.85 per share payable upon the achievement of $320 million in U.S. Nuzyra net sales in any calendar year ending on or prior to Dec. 31, 2026. The transaction is valued at about $462 million, including the assumption of debt and assuming full payment of a contingent value right.

Other funds for the transaction will come from $300 million of equity.

Closing is expected in the third quarter, subject to customary conditions, such as approval by Paratek shareholders and receipt of regulatory approvals.

Paratek is a Boston-based commercial-stage biopharmaceutical company focused on the development and commercialization of novel therapies for life-threatening diseases and other public health threats.

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