Shots:
- MannKind has signed definitive merger agreement to acquire ScPharmaceuticals
- Under the merger agreement, MannKind will launch a tender offer to acquire all outstanding scPharmaceuticals shares for $5.35 per share in cash, plus a non-tradable CVR worth up to $1.00 per share based on regulatory and sales milestones, for total consideration of up to $6.35 per share. The deal values scPharmaceuticals at up to $360M and is expected to close in Q4’25, pending regulatory approvals and customary conditions
- Upon closing, to secure Blackstone financing, MannKind will repay scPharmaceuticals’ $81M debt and buy out Perceptive’s revenue rights at closing. MannKind and Blackstone also amended their financing deal to add $175M to support the acquisition
Ref: Scpharmaceuticals | Image: Scpharmaceuticals | Press Release
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