Perceptive Discovery Fund LP, managed by Perceptive Advisors LLC entered into definitive merger agreement to acquire Vapotherm, Inc. (OTCPK:VAPO) for $15.1 million on June 17, 2024. Vapotherm?s stockholders will receive $2.18 in cash for each outstanding share of Company common stock. Perceptive will invest $50.0 million of new preferred equity capital into the business, a portion of which will be used to fund the merger consideration and make certain closing-related payments.

Acting upon the recommendation of the Special Committee, the Board approved the merger agreement and the transaction and has recommended that the Company?s stockholders approve the adoption of the merger agreement and approve the transaction on the terms set forth in the merger agreement. The transaction is expected to close in the second half of 2024. Cooley LLP is acting as legal counsel to Perceptive and Latham & Watkins LLP is acting as legal counsel to SLR.

Scalar, LLC is acting as financial advisor to the Special Committee and Ropes & Gray LLP is acting as legal counsel to the Vapotherm.