REG - Malin Corp PLC - Update re Poseida Transaction

MalinAnnouncement

08/01/2025 07:30

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250108:nRSH5540Sa&default-theme=true

RNS Number : 5540S  Malin Corporation PLC  08 January 2025

.

 

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validly withdrawn pursuant to its tender offer for all outstanding shares of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

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  UPDFIFLDLDITIIE