Eli Lilly to acquire AtaiBeckley in $2.8 billion deal

• Eli Lilly agreed to acquire the clinical-stage biopharmaceutical company AtaiBeckley for a $2.8 billion upfront equity valuation.
• The $6.75 per share cash offer represents a 40 percent premium over the recent 30-day average trading price.
• The company stated the acquisition adds late-stage clinical assets and rapid-acting mental health treatments to its pipeline.

Eli Lilly (NYSE:LLY) executed a definitive agreement to acquire AtaiBeckley (NASDAQ:ATAI) for a $2.8 billion upfront equity valuation.

The cash transaction delivers a 40 percent premium over the recent 30-day volume-weighted average share price.

The acquiring company will pay $6.75 per share at closing alongside a contingent value right structure.

The financial agreement includes potential supplemental payments of up to $2.50 per share tied to specific clinical milestones.

Management stated the transaction is expected to close in the third quarter.

The strategic acquisition secures a clinical-stage biopharmaceutical pipeline focused on rapid-acting treatments for severe mental health conditions.

The target business currently holds federal breakthrough designation for its lead synthetic medication targeting treatment-resistant depression.