Brief: Sobi To Acquire CTI BioPharma

Investor AB

10/05/2023 06:18

May 10 (Reuters) - Swedish Orphan Biovitrum AB (publ)
 SOBIV.ST :
    * SOBI TO ACQUIRE CTI BIOPHARMA CORP. ENHANCING SOBI'S
POSITION IN
RARE HAEMATOLOGY
    * MERGER WITH CTI BIOPHARMA CORP
    * AGREED TO ACQUIRE CTI, A BIOPHARMACEUTICAL COMPANY FOCUSED
ON
BLOOD RELATED CANCERS AND RARE DISEASES, BY MEANS OF A TENDER
OFFER
    * TO COMMENCE A CASH TENDER OFFER TO ACQUIRE ALL ISSUED AND
OUTSTANDING SHARES OF CTI FOR USD 9.10 PER SHARE
    * TOTAL EQUITY VALUE OF USD 1.7 BILLION
    * DEAL  FULLY FUNDED THROUGH COMMITTED DEBT FINANCING, UP TO
HALF
OF WHICH IS ANTICIPATED TO BE REFINANCED THROUGH A RIGHTS ISSUE
    * COMMITMENT FROM INVESTOR AB TO SUBSCRIBE FOR ITSPRO RATA
SHARE
OF RIGHTS ISSUE, CORRESPONDING TO APPROXIMATELY 34.7%
    * REVENUE AND COST SYNERGIES ARE EXPECTED FROM LEVERAGING
HIGHLY
COMPLEMENTARY NATURE OF SOBI'S EXISTING U.S. COMMERCIAL
OPERATIONS

Source text for Eikon:  ID:nWkr1sWhCL 
Further company coverage:  SOBIV.ST 

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