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STSA.US
id: 703

Satsuma Pharmaceuticals (STSA) M&A Case

On April 16, 2023, Satsuma Pharmaceuticals, Inc. (Nasdaq: STSA) announced that it has entered into a definitive agreement to be acquired by Shin Nippon Biomedical Laboratories, Ltd. (TSE: 2395) for $0.91 in cash per share at the closing of the transaction plus one non-tradeable contingent value right (“CVR”) of up to $5.77 per share.

  • The CVR is payable pursuant to the future sale, license, or any other monetization events related to STS101 (dihydroergotamine (DHE) nasal powder), a novel investigational therapeutic product candidate for the acute treatment of migraine, (subject to certain terms and conditions, as set forth in more detail below).
  • Satsuma submitted a New Drug Application to the FDA in March 2023 for STS101, which incorporates nasal powder formulation and delivery device technologies developed by SNBL and exclusively licensed by Satsuma.
Investors of $STSA may have reasons to suspect that the pricing terms of the M&A transaction with $2395 are unfair and that the Company BoD breached fiduciary duties to shareholders.
Case Status
Attorney Investigation
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
16 April 2023
Collecting participants…

Satsuma Pharmaceuticals Inc

Satsuma Pharmaceuticals, Inc., a development-stage biopharmaceutical company, develops novel therapeutic products for the acute treatment of migraines. The company's product candidature includes ST...

    Ticker
    STSA.US
    ISIN
    US80405P1075
    CIK
    891106
    Sector
    Healthcare
    Industry
    Biotechnology
    Country
    USA
    Address
    400 Oyster Point Boulevard, South San Francisco, CA, United States, 94080