Brief: Radius Health Announces Deal To Be Bought By Gurnet Point Capital, Patient Square Capital

Radius Recycling

23/06/2022 14:21

June 23 (Reuters) - Radius Health Inc  RDUS.O :
    * RADIUS HEALTH ANNOUNCES AGREEMENT TO BE ACQUIRED BY GURNET
POINT
CAPITAL AND PATIENT SQUARE CAPITAL
    * RADIUS HEALTH INC - PROPOSED DEAL REPRESENTS TOTAL
TRANSACTION
CONSIDERATION OF UP TO APPROXIMATELY $890 MILLION
    * RADIUS HEALTH INC - POTENTIAL PER SHARE VALUE OF $11.00,
INCLUDING $10.00 CASH PAID AT CLOSING AND POTENTIAL $1.00 CVR
    * RADIUS HEALTH INC - TRANSACTION VALUED AT ABOUT $890
MILLION,
INCLUDING ASSUMPTION OF DEBT AND ASSUMING FULL PAYMENT OF CVR
    * RADIUS HEALTH INC - DEBT FINANCING FOR THIS TRANSACTION
WILL BE
PROVIDED BY ORBIMED ADVISORS, LLC
    * RADIUS HEALTH INC - INCLUDING CVR PAYMENT, RADIUS
SHAREHOLDERS
WILL RECEIVE UP TO AN AGGREGATE OF $547 MILLION IN CASH
    * RADIUS HEALTH - ENTITY JOINTLY OWNED BY GURNET POINT AND
PATIENT
SQUARE WILL INITIATE A TENDER OFFER TO ACQUIRE ALL OF
OUTSTANDING SHARES OF RADIUS
    * RADIUS HEALTH INC - RADIUS' BOARD OF DIRECTORS UNANIMOUSLY
RECOMMENDS THAT RADIUS SHAREHOLDERS TENDER THEIR SHARES IN
TENDER OFFER
    * RADIUS HEALTH INC - PLANS TO MAINTAIN OPERATIONS IN
BOSTON, MA
AND WAYNE, PA AREAS
    * RADIUS HEALTH INC - UPON SUCCESSFUL COMPLETION OF TENDER
OFFER,
ACQUISITION SUBSIDIARY WILL BE MERGED INTO RADIUS
    * RADIUS HEALTH - ON COMPLETION OF TENDER OFFER, REMAINING
SHARES
OF RADIUS' COMMON STOCK NOT TENDERED TO BE CANCELED, CONVERTED
INTO RIGHT TO GET SAME CONSIDERATION PAYABLE
    * RADIUS HEALTH INC - FOLLOWING COMPLETION, WILL BECOME A
PRIVATE
COMPANY AND WILL NO LONGER BE TRADED ON NASDAQ GLOBAL MARKET
    * RADIUS HEALTH INC - TRANSACTION IS NOT SUBJECT TO A
FINANCING
CONDITION

Source text for Eikon:  ID:nGNX9HS4Hk 
Further company coverage:  RDUS.O 

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