Reported Earlier, Rain Oncology To Be Acquired By Pathos AI For $1.16/Share Plus Additional Contingent Value Rights
Portfolio Pulse from Benzinga Newsdesk
Rain Oncology is set to be acquired by Pathos AI for $1.16 per share, plus additional contingent value rights (CVRs). The deal includes a cash CVR payment and a development CVR payment related to the drug milademetan. The tender offer is contingent on certain conditions, including a minimum share tender and available cash. Stockholders holding 44% of Rain's shares have agreed to support the tender. If successful, the transaction is expected to close in January 2024.
December 14, 2023 | 6:44 am
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POSITIVE IMPACT
Rain Oncology agreed to be acquired by Pathos AI for $1.16/share plus additional CVRs. The deal includes specific conditions and is supported by 44% of shareholders.
The acquisition news is likely to have a positive short term impact on Rain Oncology's stock price as acquisitions typically offer a premium over the current trading price. The support from 44% of shareholders and the additional CVRs add further potential value, making the news highly relevant and important to investors. The confidence score reflects the clear terms of the agreement and the significant shareholder support.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100