Syncona to Acquire Freeline in All Cash Transactions for ~$43.5M
Shots:
- Under the agreement, Syncona will acquire all shares of Freeline for $6.50 per American Depositary Share (ADS). This price values Freeline’s entire issued share capital at approx. $28.3M and represents a 51% premium over the closing price prior to the announcement of Syncona’s initial proposal on October 18.
- Additionally, Freeline is eligible to receive $15M in secured convertible debt funds to support the advancement of FLT201. The acquisition is expected to close in Q1’24
- The firm will become a fully owned Syncona portfolio company upon completion of the transaction, and its ADSs will no longer be traded on Nasdaq.
Ref: Globenewswire | Image: Freeline
Related News:- Merck to Acquire Caraway Therapeutics for ~$610M
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