DUBLIN - Malin Corporation (OTC:MLLNF) plc ( Euronext (EPA:ENX) Growth Dublin:MLC), an investor in life sciences companies, announced today that Roche Holdings, Inc.'s subsidiary Blue Giant Acquisition Corp. has successfully completed a tender offer for all outstanding shares of Poseida Therapeutics, Inc. (NASDAQ:PSTX). Roche's offer included $9.00 per share in cash and a contingent value right (CVR) for additional payments up to $4.00 per share, contingent on achieving certain milestones.
The tender offer, which expired just after midnight on January 7, 2025, will not be extended. Roche plans to finalize Poseida's acquisition later today through a merger, turning Poseida into a wholly owned subsidiary of Roche. Consequently, Poseida shares will be delisted from the Nasdaq Global Select Market.
Malin, which holds approximately 12% of Poseida's issued share capital, expects to receive initial net proceeds of about $106.5 million from the transaction. There is also the potential for Malin to gain up to an additional $47.3 million through the CVRs if specific milestones are met.
Following this transaction, Malin's board will explore options for returning surplus capital to its shareholders and will make further announcements as decisions are made.
The acquisition of Poseida aligns with Roche's strategic initiatives to expand its portfolio in the biopharmaceutical sector. The completion of this transaction marks a significant milestone for both companies and their stakeholders.
This report is based on a press release statement.
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