The Globe and Mail reports in its Tuesday, Dec. 19, edition that Persistence Capital Partners has lowered its take-private offer for Neighbourly Pharmacy more than two months after making its bid. The Globe's Chris Hannay writes that Neighbourly made its debut on the stock market in 2021 during the pandemic boom in initial public offerings. Its stock rose to a high of $39.94 a share from the IPO price of $17, before tumbling throughout 2022 and 2023 to reach a low of $12.05. That slide stopped when Persistence, which currently owns 50.2 per cent of common shares, announced on Oct. 3 that it had signed a letter of intent to take Neighbourly private at a price of $20.50, which valued the company at $916-million. The deal was subject to the private-equity firm securing financing and a vote by shareholders. On Monday, Neighbourly announced Persistence had arranged equity financing at a revised price of $18.50 a share, a cut of nearly 10 per cent. The company had previously disclosed that TD Securities estimated Neighbourly's fair market value at between $20.50 and $25.50 a share. Persistence says it reduced the offer because of difficult marketing conditions and the views of its financing partners.