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ISEE.US
id: 711

IVERIC Bio (ISEE) M&A Case

On April 30, 2023, Astellas Pharma Inc. (TSE: 4503) and IVERIC Bio, Inc. (NASDAQ: ISEE) announced that they entered into a definitive agreement under which Astellas through Berry Merger Sub, Inc., a wholly-owned subsidiary of Astellas US Holding, Inc., agreed to acquire 100% of the outstanding shares of Iveric Bio for US$40.00 per share in cash for a total equity value of approximately US$5.9 billion.

  • In the Acquisition, Iveric Bio will become an indirect wholly-owned subsidiary of Astellas.
  • The total equity value of Iveric Bio in the Acquisition assumes that there are approximately 148.2 million outstanding shares of Iveric Bio common stock on a fully diluted basis.
  • The Boards of Directors of both companies have unanimously approved the transaction.
Investors of $ISEE may have reasons to suspect that the pricing terms of the M&A transaction are unfair and that the Company BoD breached fiduciary duties to shareholders.
Alleged Offence
Misleading Statements
Financial Misrepresentation
Failure to Disclose
Malpractice
Breach of Fiduciary duty
Omissions
Suspected Party
Directors
Management
Shareholder
Investment Bank
Service Provider
Security Type
Stocks
Trade Direction
Long
Shock Event Date
30 April 2023
Collecting participants…

IVERIC bio Inc

IVERIC bio, Inc., a biopharmaceutical company, focuses on the discovery and development of novel treatments for retinal diseases with unmet medical needs. The company develops Zimura, an inhibitor ...

    Ticker
    ISEE.US
    ISIN
    US46583P1021
    CIK
    1410939
    Sector
    Healthcare
    Industry
    Biotechnology & Medical Research
    Country
    USA
    Address
    8 Sylvan Way, Parsippany, NJ, United States, 07054