A huge buy, Webster Equity Partners to acquire Lifecore Biomedical for up to $664M

Lifecore Biomedical, Inc. (Nasdaq: LFCR) has entered into a definitive agreement to be acquired by Webster Equity Partners in a transaction valued at up to $663.7 million, assuming full achievement of certain performance milestones, according to a company statement.

Under the terms of the agreement, common stockholders will receive $6.28 per share in cash at closing, representing a 49.5% premium to Lifecore’s closing price on September 25, 2026, the last full trading day before the merger agreement was signed. Each common stockholder will also receive one non-tradable contingent value right (CVR) per share.

Holders of Series A Preferred Stock will receive a cash payment equal to the “Conversion Amount” as defined in the Certificate of Designations, plus one CVR per share of common stock into which the preferred stock is convertible. As of June 30, 2026, the Conversion Amount was approximately $50.2 million, or $6.53 per common equivalent share. The preferred stock accrues dividends paid in kind at 7.5% per annum through closing.