Sep. 26 at 2:44 PM
$ETNB B 5k ETNB @
$14.70 (paying .20 for the CVRs)
$14.50 per share in cash at closing, representing an aggregate payment of
$2.4 billion. In addition, 89bio's stockholders will receive a non-tradeable CVR to receive up to an aggregate of
$6.00 per share in cash, for a total transaction equity value of up to approximately
$3.5 billion on a fully diluted basis.
Each non-tradeable CVR will entitle its holders to receive the following contingent cash payments, conditioned upon the achievement of certain milestones, within specified time periods:
$2.00 per share in cash, upon the first commercial sale of pegozafermin in F4 MASH cirrhotic patients (by March 31, 2030)
$1.50 per share in cash, upon pegozafermin reaching annual net sales globally of at least US
$3.0 billion in any calendar year (by December 31, 2033)
$2.50 per share in cash, upon pegozafermin reaching annual net sales globally of at least US
$4.0 billion in any calendar year (by December 31, 2035)