ESSA Announces Completion of Arrangement with XenoTherapeutics
ESSA Pharma (NASDAQ: EPIX) announced completion of the previously announced arrangement under which XenoTherapeutics acquired all outstanding common shares for US$0.1242 per share plus one contingent value right (CVR) per share. The CVR represents the right to receive up to US$0.14 per CVR, representing up to US$6.7 million aggregate depending on outcomes and related expenses of specified contingent liabilities. The Supreme Court of British Columbia issued a final order approving the arrangement on October 7, 2025. ESSA has requested Nasdaq file a Form 25 to delist the common shares and expects to terminate registration under the U.S. Securities Exchange Act approximately 10 days after closing. An early warning report will be filed on SEDAR+.
ESSA Pharma (NASDAQ: EPIX) ha annunciato il completamento dell'accordo precedentemente annunciato, secondo il quale XenoTherapeutics ha acquisito tutte le azioni ordinarie in circolazione per US$0,1242 per azione più una right di valore contingente (CVR) per azione. Il CVR rappresenta il diritto a ricevere fino a US$0,14 per CVR, pari a un massimo di US$6,7 milioni in totale a seconda degli esiti e delle spese correlate di obblighi contingenti specificati. La Corte Suprema della British Columbia ha emesso un'ordinanza finale che approva l'accordo il 7 ottobre 2025. ESSA ha richiesto a Nasdaq di presentare un Form 25 per la des-lista delle azioni ordinarie e prevede di terminare la registrazione ai sensi del U.S. Securities Exchange Act circa 10 giorni dopo la chiusura. Un rapporto di avvertenza precoce sarà presentato su SEDAR+.
ESSA Pharma (NASDAQ: EPIX) anunció la finalización del acuerdo previamente anunciado, por el cual XenoTherapeutics adquirió todas las acciones comunes en circulación por US$0,1242 por acción más un derecho de valor contingente (CVR) por acción. El CVR representa el derecho a recibir hasta US$0,14 por CVR, lo que equivale a un máximo de US$6,7 millones en agregado según los resultados y los gastos relacionados de las obligaciones contingentes especificadas. La Supreme Court of British Columbia emitió una orden final aprobando el arreglo el 7 de octubre de 2025. ESSA ha solicitado a Nasdaq presentar un Form 25 para deslistar las acciones comunes y espera terminar la registración bajo la U.S. Securities Exchange Act aproximadamente 10 días después del cierre. Se presentará un informe de advertencia temprana en SEDAR+.
ESSA Pharma (NASDAQ: EPIX)는 XenoTherapeutics가 모든 발행 보통주를 주당 US$0.1242에 인수하고 주당 하나의 조건부 가치권(CVR)을 부여하는 것으로 사전에 발표된 합의가 완료되었다고 발표했습니다. CVR은 주당 최대 US$0.14를 받을 권리를 나타내며, 지정된 조건부 부채의 결과 및 관련 비용에 따라 최대 US$6.7백만까지 총합이 산정됩니다. 브리티시컬럼비아주 대법원은 2025년 10월 7일 합의를 승인하는 최종 명령을 발령했습니다. ESSA는 Nasdaq에 Form 25를 제출하여 보통주를 상장 폐지하도록 요청했고, 마감 후 약 10일 내에 미국 증권거래법에 따른 등록을 종료할 것으로 예상합니다. 조기 경고 보고서는 SEDAR+에 제출될 예정입니다.
ESSA Pharma (NASDAQ: EPIX) a annoncé l’achèvement de l’accord annoncé précédemment selon lequel XenoTherapeutics a acquis toutes les actions ordinaires en circulation pour US$0,1242 par action plus un droit à valeur conditionnelle (CVR) par action. Le CVR représente le droit de recevoir jusqu’à US$0,14 par CVR, soit jusqu’à US$6,7 millions au total selon les résultats et les dépenses connexes des passifs éventuels spécifiés. La Cour suprême de la Colombie-Britannique a délivré une ordonnance finale approuvant l’accord le 7 octobre 2025. ESSA a demandé à Nasdaq de déposer un Form 25 pour retirer la cotation des actions ordinaires et prévoit de mettre fin à l’enregistrement en vertu de la U.S. Securities Exchange Act environ 10 jours après la clôture. Un rapport d’alerte précoce sera déposé sur SEDAR+.
ESSA Pharma (NASDAQ: EPIX) gab die Vollziehung der zuvor angekündigten Vereinbarung bekannt, nach der XenoTherapeutics alle ausstehenden Stammaktien zuUS$0,1242 pro Aktie zuzüglich einem CVR pro Aktie erworben hat. Der CVR berechtigt zum Erhalt von bis zu US$0,14 pro CVR, was bis zu US$6,7 Mio. in der Gesamtsumme je nach Ergebnissen und den damit verbundenen Kosten bestimmter bedingter Verbindlichkeiten entspricht. Der Oberste Gerichtshof von British Columbia hat am 7. Oktober 2025 eine endgültige Anordnung zur Genehmigung der Vereinbarung erlassen. ESSA hat Nasdaq gebeten, ein Form 25 einzureichen, um die Stammaktien zu delisten, und erwartet, die Registrierung gemäß dem U.S. Securities Exchange Act etwa 10 Tage nach dem Abschluss zu beenden. Ein Early-Warning-Bericht wird auf SEDAR+ eingereicht.
ESSA Pharma (NASDAQ: EPIX) أعلنت إكمال الترتيب الذي سبق الإعلان عنه بموجبه استحوذت XenoTherapeutics على جميع الأسهم العادية القائمة مقابل US$0.1242 للسهم بالإضافة إلى حق قيمة مشروطة (CVR) لكل سهم. يمثل CVR الحق في تلقي حتى US$0.14 لكل CVR، مما يمثل حتى US$6.7 مليون كإجمالي اعتماداً على النتائج والنفقات المرتبطة بالالتزامات المشروطة المحددة. أصدرت المحكمة العليا في كولومبيا البريطانية أمراً نهائياً بالموافقة على الترتيب في 7 أكتوبر 2025. طلبت ESSA من Nasdaq تقديم نموذج 25 لإلغاء إدراج الأسهم العادية وتتوقع إنهاء التسجيل بموجب قانون الأوراق المالية الأمريكية نحو 10 أيام بعد الإغلاق. سيُقدَّم تقرير التحذير المبكر على SEDAR+.
ESSA Pharma（NASDAQ: EPIX）宣布完成先前宣布的安排，在该安排下 XenoTherapeutics 以每股 US$0.1242 收购所有已发行普通股，并按每股再附加一个条件性价值权（CVR）。CVR 表示有权在每个 CVR 上最多取得 US$0.14，总额最高可达 US$6.7 百万美元，具体取决于指定的有条件负债的结果及相关费用。不列颠哥伦比亚省最高法院于 2025 年 10 月 7 日 发出批准该安排的最终命令。ESSA 已请求 Nasdaq 提交 Form 25 以取消普通股上市，并预计在完成后大约 10 天 内结束在美国证券交易法下的注册。将于 SEDAR+ 提交早期警告报告。
- Transaction closed; shares acquired for US$0.1242 per share
- CVR may provide up to US$6.7M aggregate to holders
- Final court order obtained from Supreme Court of British Columbia
- Common shares to be delisted from Nasdaq via Form 25
- U.S. registration under the Securities Exchange Act to terminate ~10 days post-close
- Consideration per share is US$0.1242, a low cash payout per share
Insights
ESSA completed a takeover by Xeno at
ESSA was acquired by Xeno through Xeno Acquisition Corp. for approximately
The company has requested Nasdaq file a Form 25 to delist the common shares and expects to terminate registration under the U.S. Securities Exchange Act of 1934 approximately
Key near-term items to monitor: the SEDAR+ early warning filing, the formal Nasdaq delisting confirmation, the timetable and conditions for CVR payments, and any public statements about the contingent liabilities that determine the
Xeno Acquisition Corp., a wholly owned subsidiary of Xeno, has acquired all of the outstanding common shares of ESSA (the "Common Shares") for approximately
On October 7, 2025, the Company obtained a final order from the Supreme Court of
An early warning report will be filed on SEDAR+ at www.sedarplus.ca under the Company's profile.
Advisors and Counsel
Leerink Partners LLC served as ESSA's exclusive financial advisor in connection with the Acquisition. Blake, Cassels & Graydon, LLP and Skadden, Arps, Slate, Meagher & Flom LLP acted as ESSA's Canadian legal counsel and
About ESSA Pharma Inc.
ESSA is a pharmaceutical company that was previously focused on developing novel and proprietary therapies for the treatment of patients with prostate cancer. For more information, please visit www.essapharma.com.
About XenoTherapeutics, Inc.
XenoTherapeutics is a
Forward Looking Statements
This communication, and any related oral statements, contains certain information which, as presented, constitutes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of applicable Canadian securities laws (collectively, "forward-looking statements"). Forward-looking statements include, but are not limited to, statements that relate to future events and often address expected future business and financial performance, containing words such as "anticipate," "believe," "plan," "estimate," "expect," and "intend," statements that an action or event "may," "might," "could," "should," or "will" be taken or occur, or other similar expressions and include, but are not limited to, statements regarding ESSA's delisting application to Nasdaq, and other statements that are not statements of historical facts.
In this communication, these forward-looking statements are based on the Company's current expectations, estimates and projections regarding, among other things, and the potential benefits of the Acquisition, the Company's business and industry, management's beliefs and certain assumptions made by the Company, all of which are subject to change. Forward-looking statements are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of the Company to control or predict, and which may cause the Company's actual results, performance or achievements to be materially different from those expressed or implied thereby, including the consummation of the Transaction and the anticipated benefits thereof. Such statements reflect the Company's current views with respect to future events, are subject to risks and uncertainties and are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Company as of the date of such statements, are inherently subject to significant medical, scientific, business, economic, competitive, regulatory, political and social uncertainties and contingencies. Forward-looking statements may be based on various material assumptions, and are subject to risks and uncertainties, including but not limited to those related to (i) the completion of the Transaction on anticipated terms and timing, including obtaining required securityholder, regulatory and court approvals, and the satisfaction of other conditions to the completion of the Transaction; (ii) potential litigation relating to the Transaction that could be instituted by or against the Company, Xeno, XOMA Royalty Corporation or their respective directors or officers, including the effects of any outcomes related thereto; (iii) potential exposure or liability relating to the due bill communication matter that occurred on August 25, 2025, (iv) the risk that disruptions from the Transaction will harm the Company's business, including current plans and operations; (v) the ability of the Company to retain and hire key personnel; (vi) potential adverse reactions or changes to business relationships resulting from the announcement or completion of the Transaction; (vii) continued availability of capital and financing and rating agency actions; (viii) legislative, regulatory and economic developments affecting the Company's business; (ix) the accuracy of the Company's financial projections; (x) general business, market and economic conditions; (xi) certain restrictions during the pendency of the Transaction that may impact the Company's ability to pursue certain business opportunities or strategic transactions; (xii) unpredictability and severity of catastrophic events, including but not limited to acts of terrorism, pandemics, outbreaks of war or hostilities, as well as the Company's response to any of the aforementioned factors; (xiii) significant transaction costs associated with the Transaction; (xiv) the possibility that the Transaction may be more expensive to complete than anticipated, including as a result of unexpected factors or events; (xv) competitive responses to the Transaction; (xvi) the risks and uncertainties pertaining to the Company's business, including those set forth in the Company's Annual Report on Form 10-K dated December 17, 2024, under the heading "Risk Factors," a copy of which is available on the Company's profile on EDGAR at www.sec.gov and on SEDAR+ at www.sedarplus.ca, and as otherwise disclosed from time to time on the Company's EDGAR and SEDAR+ profiles; and (xvii) the risks and uncertainties that are described in the definitive proxy statement and management information circular for the Company's securityholders filed with the
These risks, as well as other risks associated with the Transaction, are more fully discussed in the Proxy Statement. While the list of factors presented here is, and the list of factors presented in the Proxy Statement are, considered representative, no such list should be considered a complete statement of all potential risks and uncertainties. Unlisted factors may present significant additional obstacles to the realization of forward-looking statements. Consequences of material differences in results as compared with those anticipated in the forward-looking statements could include, among other things, business disruption, operational problems, financial loss, legal liability to third parties and similar risks, any of which could have a material impact on the Company's financial condition, results of operations, credit rating or liquidity. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as may be required by applicable
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SOURCE ESSA Pharma Inc
FAQ
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