Maksim Labkouski
Concentra Biosciences has provided to amass LianBio (NASDAQ:LIAN) for $4.30 per share in money, plus a contingency worth proper to obtain 80% of the web proceeds payable from any license or disposition of LianBio’s packages.
LianBio disclosed the supply in an SEC submitting on Thursday. Tang Capital is the controlling shareholder of Concentra.
Within the proposal letter, Concentra mentioned the supply was topic to restricted due diligence and based mostly on the provision of at the least $515M of money and equivalents at closing. It added that it anticipated to have the ability to full its due diligence and negotiate a definitive merger settlement by Dec. 22, with a closing by way of a money tender by Feb. 22.
Concentra mentioned the supply expires at 5:00 p.m. ET on Dec. 8.
LianBio mentioned in its Q3 earnings launch earlier this month that it was conducting a strategic evaluation of its enterprise. It ended Q3 with $252M in money and equivalents.