Brief: Sesen Bio and Carisma Therapeutics Announce Increase to Expected Special Cash Dividend

Carisma Therapeutics

29/12/2022 21:36

Dec 29 (Reuters) - Sesen Bio Inc  SESN.O :
    * SESEN BIO AND CARISMA THERAPEUTICS ANNOUNCE SUBSTANTIAL
INCREASE
TO EXPECTED SPECIAL CASH DIVIDEND IN CONNECTION WITH PENDING
MERGER
    * SESEN BIO INC - CONTINGENT VALUE RIGHT TO INCLUDE PROCEEDS
OF
VICINEUM AND OTHER PRECLINICAL ASSETS
    * SESEN BIO INC - STOCKHOLDERS EXPECTED TO RECEIVE
APPROXIMATELY
$70 MILLION SPECIAL CASH DIVIDEND, AN INCREASE FROM UP TO $25
MILLION PREVIOUSLY ANNOUNCED
    * SESEN BIO INC - SESEN BIO BOARD OF DIRECTORS CONTINUES TO
BELIEVE MERGER PROVIDES SESEN BIO STOCKHOLDERS WITH BOTH
IMMEDIATE VALUE AND FUTURE UPSIDE
    * SESEN BIO - BASED ON REVIEW PROCESS CONDUCTED WITH CO'S
BOARD,
PAYMENT OF SPECIAL CASH DIVIDEND WITHOUT A CONCURRENT DEAL
"WOULD BE UNLIKELY"

Source text for Eikon:  ID:nBw1hMMTra 
Further company coverage:  SESN.O 
 ((Reuters.Briefs@thomsonreuters.com;))