Allakos Inc. Enters into Agreement to Be Acquired by Concentra Biosciences, LLC for $0.33 in Cash per Share
Allakos Inc. (ALLK) has announced a definitive merger agreement with Concentra Biosciences, , which will acquire Allakos for $0.33 in cash per share. The biotechnology company's Board of Directors unanimously approved the acquisition, deeming it in the best interests of all shareholders.
A tender offer will commence by April 15, 2025, subject to conditions including the tender of shares representing at least a majority of outstanding shares and availability of minimum $35.5 million in cash at closing. Approximately 8.07% of Allakos Common Stock holders, including officers and directors, have agreed to tender their shares. The merger is expected to close in May 2025.
Allakos Inc. (ALLK) ha annunciato un accordo di fusione definitivo con Concentra Biosciences, che acquisirà Allakos per $0,33 in contanti per azione. Il Consiglio di Amministrazione della società biotecnologica ha approvato all'unanimità l'acquisizione, ritenendola nel miglior interesse di tutti gli azionisti.
Un'offerta pubblica di acquisto inizierà entro il 15 aprile 2025, soggetta a condizioni che includono il conferimento di azioni che rappresentano almeno la maggioranza delle azioni in circolazione e la disponibilità di un minimo di $35,5 milioni in contanti8,07% dei detentori di azioni ordinarie di Allakos, compresi funzionari e direttori, hanno accettato di conferire le loro azioni. Si prevede che la fusione si concluda a maggio 2025.
Allakos Inc. (ALLK) ha anunciado un acuerdo de fusión definitivo con Concentra Biosciences, que adquirirá Allakos por $0.33 en efectivo por acción. La Junta Directiva de la empresa biotecnológica aprobó unánimemente la adquisición, considerándola en el mejor interés de todos los accionistas.
Una oferta pública comenzará el 15 de abril de 2025, sujeta a condiciones que incluyen la entrega de acciones que representen al menos la mayoría de las acciones en circulación y la disponibilidad de un mínimo de $35.5 millones en efectivo al cierre. Aproximadamente 8.07% de los tenedores de acciones ordinarias de Allakos, incluidos funcionarios y directores, han acordado entregar sus acciones. Se espera que la fusión se cierre en mayo de 2025.
Allakos Inc. (ALLK)는 Concentra Biosciences와 최종 합병 계약을 발표했으며, Concentra는 Allakos를 주당 $0.33 현금으로 인수할 것입니다. 생명공학 회사의 이사회는 모든 주주에게 최선의 이익이 된다고 판단하여 인수를 만장일치로 승인했습니다.
입찰 제안은 2025년 4월 15일에 시작되며, 조건으로는 최소한의 유통 주식의 과반수를 대표하는 주식의 입찰과 $35.5 백만 현금의 최소 가용성이 포함됩니다. Allakos의 보통주 주주 중 약 8.07%가 자신의 주식을 입찰하기로 동의했습니다. 합병은 2025년 5월에 마무리될 것으로 예상됩니다.
Allakos Inc. (ALLK) a annoncé un accord de fusion définitif avec Concentra Biosciences, qui va acquérir Allakos pour 0,33 $ en espèces par action. Le conseil d'administration de la société biotechnologique a approuvé à l'unanimité l'acquisition, la considérant dans le meilleur intérêt de tous les actionnaires.
Une offre publique commencera le 15 avril 2025, sous réserve de conditions incluant la soumission d'actions représentant au moins la majorité des actions en circulation et la disponibilité d'un minimum de 35,5 millions de dollars en espèces à la clôture. Environ 8,07% des détenteurs d'actions ordinaires d'Allakos, y compris des dirigeants et des administrateurs, ont accepté de soumettre leurs actions. La fusion devrait se conclure en mai 2025.
Allakos Inc. (ALLK) hat eine endgültige Fusionsvereinbarung mit Concentra Biosciences bekannt gegeben, die Allakos für 0,33 $ in bar pro Aktie erwerben wird. Der Vorstand des Biotechnologieunternehmens hat den Erwerb einstimmig genehmigt und ihn als im besten Interesse aller Aktionäre erachtet.
Ein Übernahmeangebot wird am 15. April 2025 beginnen, vorbehaltlich von Bedingungen, die die Einreichung von Aktien umfassen, die mindestens die Mehrheit der ausstehenden Aktien repräsentieren, sowie die Verfügbarkeit von mindestens 35,5 Millionen $ in bar zum Zeitpunkt des Abschlusses. Etwa 8,07% der Inhaber von Stammaktien von Allakos, darunter Führungskräfte und Direktoren, haben zugestimmt, ihre Aktien einzureichen. Der Abschluss der Fusion wird im Mai 2025 erwartet.
- Unanimous board approval indicates strong leadership alignment
- Guaranteed cash payment provides immediate liquidity for shareholders
- Clear timeline and closing conditions established
- Low acquisition price of $0.33 per share suggests significant company value deterioration
- Strict cash requirement of $35.5 million could potentially risk deal completion
- shareholder support agreements (only 8.07%) might indicate potential resistance
SAN CARLOS, Calif., April 02, 2025 (GLOBE NEWSWIRE) -- Allakos Inc. (“Allakos”) (Nasdaq: ALLK), a biotechnology company that has been developing antibodies for the treatment of allergic, inflammatory and proliferative diseases, today announced it has entered into a definitive merger agreement (the “Merger Agreement”) whereby Concentra Biosciences, LLC ( “Concentra”) will acquire Allakos for
Allakos’ Board of Directors has unanimously determined that the acquisition by Concentra is in the best interests of all Allakos shareholders and, following the unanimous recommendation of Allakos’ Transaction Committee, has approved the Merger Agreement and related transactions.
Pursuant and subject to the terms of the Merger Agreement, a wholly owned subsidiary of Concentra will commence a tender offer (the “Offer”) by April 15, 2025 to acquire all outstanding shares of Allakos Common Stock.
Closing of the Offer is subject to certain conditions, including the tender of Allakos Common Stock representing at least a majority of the total number of outstanding shares (including any shares held by Concentra), the availability of at least
About Allakos
Allakos is a biotechnology company that has been developing therapeutics that target immunomodulatory receptors present on immune effector cells involved in allergy, inflammatory and proliferative diseases.
Advisors
Wilson Sonsini Goodrich & Rosati is acting as legal counsel to Allakos. Gibson, Dunn & Crutcher LLP is acting as legal counsel to Concentra.
Forward-Looking Statements
This release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding Allakos’ beliefs and expectations and statements about the Offer, merger and related transactions contemplated by the Merger Agreement (the "Transactions"), including the timing of and closing conditions to the Transactions, and the potential effects of the proposed Transactions on Allakos. These statements may be identified by their use of forward-looking terminology including, but not limited to, "anticipate," "believe," "continue," "could," "estimate," "expect," "goal," "intend," "may," "might," "plan," "potential," "predict," "project," "should," "target," "will," and "would," and similar words expressions are intended to identify forward-looking statements. Forward-looking statements are neither historical facts nor assurances of future performance and involve risks and uncertainties that could cause actual results to differ materially from those projected, expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to: the possibility that various closing conditions set forth in the Merger Agreement may not be satisfied or waived, including uncertainties as to the percentage of Allakos’ stockholders tendering their shares in the Offer; the possibility that competing offers will be made; the risk that the Transactions may not be completed in a timely manner, or at all, which may adversely affect Allakos’ business and the price of its common stock; costs associated with the proposed Transactions; the risk that any stockholder litigation in connection with the Transactions may result in significant costs of defense, indemnification and liability; and other risks and uncertainties discussed in Allakos’ most recent annual and quarterly reports filed with the Securities and Exchange Commission (the "SEC") as well as in Allakos’ subsequent filings with the SEC. As a result of such risks and uncertainties, Allakos’ actual results may differ materially from any future results, performance or achievements discussed in or implied by the forward-looking statements contained herein. There can be no assurance that the proposed Transactions will in fact be consummated. Allakos cautions investors not to unduly rely on any forward-looking statements.
The forward-looking statements contained in this release are made as of the date hereof, and Allakos undertakes no obligation to update any forward-looking statements, whether as a result of future events, new information or otherwise, except as expressly required by law. All forward-looking statements in this document are qualified in their entirety by this cautionary statement.
Source: Allakos Inc.
Investor Contact:
Adam Tomasi, President
Alex Schwartz, VP Strategic Finance and Investor Relations
ir@allakos.com
Media Contact:
media@allakos.com
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