Rain Oncology Confirms Receipt Of Unsolicited Proposal From Concentra Biosciences To Acquire All Outstanding Shares Of Stock For $1.25/Share In Cash, Plus A CVR Representing The Right To Receive 80% Of Net Proceeds Payable From Any License Or Disposition
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Rain Oncology, Inc. (NASDAQ:RAIN) has received an unsolicited proposal from Tang Capital, LP on behalf of Concentra Biosciences LLC to acquire all outstanding shares of common stock of Rain for $1.25 per share in cash, plus a contingent value right (CVR) representing the right to receive 80% of the net proceeds payable from any license or disposition of Rain's programs. Rain's Board of Directors will review and evaluate the proposal.
October 16, 2023 | 12:05 pm
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Rain Oncology has received an unsolicited acquisition proposal from Concentra Biosciences. The offer includes $1.25 per share in cash and a CVR for 80% of net proceeds from any future license or disposition of Rain's programs.
The acquisition proposal could potentially increase the stock price of Rain Oncology in the short term as it represents a premium to the current trading price. The CVR also provides additional potential upside for shareholders. However, the final impact will depend on the Board's decision and the reaction of the market to this news.
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