Lifecore Biomedical’s stock surged 55.24% to $6.52 after the company agreed to be acquired by an affiliate of Webster Equity Partners for up to $663.7 million, assuming all performance milestones are achieved. Common stockholders will receive $6.28 per share in cash at closing, a 49.5% premium to Lifecore’s September 25, 2026 closing price, plus one non-tradable contingent value right (CVR). CVR payments could total up to $160 million and depend on 2028 and 2029 revenue milestones and a 2030 EBITDA milestone, potentially bringing consideration to $9.67 per common share or equivalent. Ademi LLP is investigating whether the consideration adequately reflects Lifecore’s value and prospects, whether insiders receive substantial change-of-control benefits, whether restrictions on competing offers could discourage a superior proposal and whether the board fulfilled its duties to public shareholders. The transaction is expected to close at the end of the fourth quarter of 2026, subject to stockholder and regulatory approvals and other conditions.