Miromatrix rises on buyout by United Therapeutics

Miromatrix Medical

30/10/2023 10:26

** Shares of Miromatrix Medical  MIRO.O  more than triple to
$3.4 premarket 
    ** United Therapeutics  UTHR.O  says it will acquire the
life sciences company for about $91 million or $3.25 per share
in cash 
    ** Deal represents a 212.5% premium to MIRO's last close on
Friday 
    ** The deal helps expand UTHR's organ manufacturing program
with MIRO's platform used to develop bioengineered organs
composed of human cells - UTHR
    ** Transaction is not subject to any financing condition and
is expected to close in the fourth quarter of 2023 - UTHR  
    ** Up to last close, MIRO shares down ~65% YTD 

 (Reporting by Mariam Sunny in Bengaluru)
 ((Mariam.ESunny@thomsonreuters.com;))