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Enzo Biochem (OTCQX: ENZB) has announced its acquisition by Battery Ventures in an all-cash transaction valued at approximately $37 million. Under the agreement, Battery will acquire Enzo for $0.70 per share, representing a 75% premium to the company's closing price on April 22, 2025, and a 32% premium to the June 23, 2025 closing price.
The transaction, expected to close in Q3 2025, follows a comprehensive strategic review by the company's Special Committee. Upon completion, Enzo will become privately held and delist from public markets. The company's officers, directors, and largest shareholder have agreed to vote in favor of the transaction.
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