Shore Pharma Investments LLC and Suven Life Sciences Ltd. (BSE:530239) entered into stalking horse asset purchase agreement to acquire substantially all of the assets and certain liabilities of the Human Health segment, excluding the Nutritional Business Sub Segment, of Rising Pharmaceuticals Inc. (‘Rising’) and its subsidiaries for $15 million on March 7, 2019. The purchase consideration includes $15 million in cash, plus the assumption of certain liabilities and customer obligations, on a cash-free and debt-free basis. Shore Pharma Investments and Suven Life Sciences will make the acquisition through an entity named Shore Suven Pharma Inc. (‘buyer’). Pursuant to the agreement, the buyer will deposit $2.69 million into escrow as a good faith deposit. The good faith deposit will be applied to the purchase price at closing or retained by the sellers in the event the agreement is terminated due to certain breaches by buyer or returned to buyer if the agreement is terminated for other reasons. Under the terms of the agreement, deferred payments due as per a product purchase agreement dated November 2, 2016 will be reduced by $2 million. In connection with the agreement, the buyer entered into an equity commitment letter wherby Suven, Vimal Kavuru, Casper Pharma Private Limited, an entity affiliated with Vimal Kavuru, and Shore agreed to contribute to the buyer an aggregate cash amount equal to $137.25 million to be used to fund the purchase under the agreement. The sale will be conducted through Court-supervised processes under Section 363 of the Bankruptcy Code. The sellers may be required to pay an amount equal to $0.6725 million as a break-up fee under certain circumstances. The transaction is subject to Court-approved bidding procedures, potential receipt of higher and better offers at auction and approval by the Court, receipt of customary regulatory approvals, expiry or termination of waiting period under anti-trust laws, the sale of the Chemicals Plus business of Rising, inventory level not being less than $60 million, mutual release of claims against certain of the buyer parties and their affiliates. As of April 12, 2019, U.S. Bankruptcy Court approval was obtained. The transaction is expected to close before the fiscal year end on June 30, 2019. As of April 12, 2019, the transaction is expected to close on April 19, 2019. As of April 16, 2019, transaction is expected to close later this month. AP Services, an affiliate of AlixPartners LLP, served as financial advisor to Aceto Corporation (NasdaqGS:ACET), the parent company of Rising. PJT Partners LP served as financial advisor to Aceto. Steven E. Siesser, Esq. from Lowenstein Sandler LLP acted as legal advisor to Aceto. Niket Rele of Reed Smith LLP acted as legal advisor to Suven Life Sciences Limited. Shore Pharma Investments LLC and Suven Life Sciences Ltd. (BSE:530239) completed the acquisition of substantially all of the assets and certain liabilities of the Human Health segment, excluding the Nutritional Business Sub Segment, of Rising Pharmaceuticals Inc. and its subsidiaries on April 19, 2019.