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UCB has announced that it is extending its tender offer to acquire Zogenix.
UCB, a biopharmaceutical company located in Brussels, announced on Feb. 28, 2022 that it is extending its tender offer to purchase all outstanding shares of common stock of Zogenix, alongside its pending acquisition of Zogenix, until 5:00 p.m., EST on March 4, 2022. The tender offer was previously scheduled to expire on March 1, 2022.
UCB intends to purchase all outstanding shares of Zogenix for a purchase price per share of US$26.00 in cash at closing, plus a contingent value right for a potential cash payment of US$2.00 upon EU approval by Dec. 31, 2023 of Fintepla as an orphan medicine for treatment of Lennox-Gastaut syndrome.
Certain conditions must be met in order to close the tender offer, including the tender of shares representing at least a majority of the total number of Zogenix’s outstanding shares and receipt of required antitrust clearance. The offer may be extended further in accordance with the merger agreement and the applicable rules and regulations of the U.S. Securities and Exchange Commission.
American Stock Transfer & Trust Company, LLC. is the Depositary for the tender offer, and Innisfree M&A Incorporated is the Information Agent. Stockholders who have already tendered their shares do not need to retender or take any other action as a result of the extension of the tender offer.