RA Capital Management Says At The Closing Of The Transaction, Each Outstanding Share Of Tango Capital Stock Will Be Exchanged For Newly Issued Shares Of Eliem Common Stock Based On An Exchange Ratio Of Eliem Shares To Be Issued Based Upon The Following: An Initial Valuation For Tango Of $20M; And An Initial Valuation For Eliem Of $110M At The Time Of Closing
Portfolio Pulse from Benzinga Newsdesk
RA Capital Management announced that at the closing of their transaction, each outstanding share of Tango Capital stock will be exchanged for newly issued shares of Eliem Therapeutics (ELYM) common stock. The exchange ratio is based on an initial valuation of $20M for Tango and $110M for Eliem at the time of closing.
March 18, 2024 | 9:05 pm
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Eliem Therapeutics (ELYM) is part of a transaction where Tango Capital shares will be exchanged for ELYM shares, based on initial valuations of $20M for Tango and $110M for Eliem.
The transaction indicates a strategic move by Eliem Therapeutics (ELYM) to expand or consolidate its business, potentially increasing its market value and investor confidence. The valuation of $110M for Eliem suggests a positive outlook on its financial health and future prospects, likely leading to a short-term positive impact on its stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100