.
Poseida
Therapeutics Inc. shares purchased by Roche in tender
offer
Dublin-Ireland, 8 January
2025: Malin Corporation plc (Euronext
Growth Dublin:MLC) (Malin), a company investing in highly
innovative life sciences companies, today provides an update in
respect of its investee company, Poseida Therapeutics, Inc
("Poseida", NASDAQ: PSTX). Roche Holdings, Inc ("Roche") has
announced today that Roche's wholly owned subsidiary Blue Giant
Acquisition Corp. has accepted for payment all shares validly
tendered and not validly withdrawn pursuant to its tender offer for
all outstanding shares of common stock of Poseida at a price of
$9.00 per share in cash, plus a non-tradeable contingent value
right (CVR) to receive certain contingent payments of up to an
aggregate of $4.00 per share in cash. The tender offer expired at
one minute following 11:59 p.m., New York City time on 7 January,
2025, and was not extended.
Later today, Roche intends to
complete the acquisition of Poseida through a merger of Blue Giant
Acquisition Corp. with and into Poseida without a vote or meeting
of Poseida's stockholders. In the merger, all shares of Poseida not
owned by Poseida, Roche or Roche's wholly owned subsidiaries (other
than shares as to which appraisal rights have been validly
exercised under Delaware law) will be converted into the right to
receive the same consideration per share, including the CVR, as was
received for shares validly tendered in the tender offer. Following
completion of the merger, Poseida will become a wholly owned
subsidiary of Roche, and Poseida's shares will cease to be traded
on the Nasdaq Global Select Market.
Malin has an interest in
approximately 12% of the issued share capital of Poseida and this
transaction is expected to deliver initial net proceeds to Malin of
approximately $106.5 million, with the potential to receive up
to a further $47.3 million through the CVRs on the
achievement of specific milestones.
The board of Malin will consider how
best to return surplus capital to its shareholders and further
announcements will be made in due course.
For further information please
contact:
Malin
Fiona Dunlevy, Executive
Director/Company Secretary
Tel: +353 (0)1 901 5700
cosec@malinplc.com
Davy Corporate Finance (Financial
Adviser, Euronext Growth Listing Sponsor & Broker)
Brian Garrahy / Daragh
O'Reilly
Tel: +353 1 679 6363
Sodali & Co (Media
enquiries)
Eavan Gannon
Tel: +353 87 236
5973
eavan.gannon@sodali.com
