Gene Therapy Player Freeline Therapeutics Goes Private In $28M Deal
Portfolio Pulse from Vandana Singh
Syncona Ltd has agreed to acquire Freeline Therapeutics Holdings plc (NASDAQ:FRLN) for approximately $28.3 million, or $6.50 per ADS, a 51% premium over the pre-announcement closing price. The acquisition is expected to close in Q1 2024, and Freeline will become a wholly owned Syncona portfolio company, delisting from Nasdaq. Syncona will also provide up to $15 million in convertible debt financing to support Freeline's operations and FLT201 development. Freeline's shares rose 11.3% to $6.43 after the announcement.
November 22, 2023 | 2:49 pm
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Freeline Therapeutics is being acquired by Syncona Ltd for $6.50 per ADS, a 51% premium, and will delist from Nasdaq post-acquisition. The company's stock rose 11.3% following the news.
The acquisition announcement has a direct and significant impact on Freeline's stock price, as evidenced by the 11.3% increase. The premium offered and the future delisting from Nasdaq are critical factors for investors. The confidence level is high due to the clear terms of the deal and the immediate market reaction.
CONFIDENCE 90
IMPORTANCE 95
RELEVANCE 100