Esperion Therapeutics (ESPR) shares jumped on Monday after the company announced it's going private in a $1.1 billion deal with Archimed. The acquisition gives shareholders $3.16 per share in cash at closing — a 58% premium over the stock's April 30 closing price — plus a non-tradeable contingent value right, or CVR, that could unlock additional payouts based on future sales.

The CVR entitles holders to two milestone payments totaling up to $100 million. The first is tied to annual U.S. net sales of certain products containing bempedoic acid in calendar year 2027. The second is based on annual U.S. net sales of products containing bumetanide: if those sales hit $160 million or more in any single year through December 31, 2030, shareholders get a $60 million payout.

This deal follows Esperion's March acquisition of Corstasis Therapeutics, which developed Enbumyst — the first FDA-approved nasal spray diuretic for treating edema linked to congestive heart failure. That deal included $75 million upfront, plus potential royalties and milestones that could reach $180 million.

The transaction is expected to close soon, per the May 1 announcement. At publication Monday, Esperion shares traded at $3.10.