Pursuant To Merger Agreement Terms, Concentra Merger Sub II And Theseus Determine Additional Price Per Share Max Of $0.15/Share; Cash Amount Paid In Offer Is $4.05/Share
Portfolio Pulse from Benzinga Newsdesk
Concentra Biosciences, LLC and its subsidiary, Concentra Merger Sub II, Inc., have agreed to acquire Theseus Pharmaceuticals, Inc. (NASDAQ:THRX) for $3.90 to $4.05 per share in cash, plus a contingent value right (CVR). The CVR entitles holders to a portion of proceeds from licensing or sale of Theseus' programs and potential cost savings within 180 days post-merger. The tender offer for Theseus' shares commenced on January 9, 2024.
January 30, 2024 | 1:29 pm
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Theseus Pharmaceuticals is being acquired by Concentra Biosciences for a cash amount between $3.90 and $4.05 per share, along with a CVR for future proceeds and cost savings.
The acquisition news is highly relevant and important for Theseus Pharmaceuticals as it directly affects its shareholders and the valuation of the company. The price per share offered is likely to influence the stock positively in the short term as it provides a clear cash exit strategy for investors. The inclusion of a CVR also adds potential future value, making the offer more attractive.
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IMPORTANCE 90
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