The RVNC news page on Stock Titan provides an archive of announcements and transaction-related communications concerning Revance Therapeutics, Inc., a biotechnology company focused on aesthetic and therapeutic offerings. These news items document Revance’s role in the aesthetic injectables market, its product portfolio, and the corporate events that led to its acquisition by Crown Laboratories, Inc.
Readers can review press releases describing Crown’s commencement of a cash tender offer to acquire all outstanding shares of Revance, subsequent extensions of the tender offer, and an increase in the offer price that was unanimously approved by the Revance Board of Directors. Additional news items cover competing interest from Teoxane SA, reminders to Revance stockholders about tendering their shares, and joint announcements by Crown and Revance regarding the expiration of the tender offer and satisfaction of its conditions.
The archive also includes Crown’s announcements of the successful closing of the acquisition and completion of the second-step merger, in which Crown stated that Revance’s common stock will be delisted from the NASDAQ Global Select Market and deregistered. These releases provide context on how Revance, as the issuer of RVNC, transitioned from an independent publicly traded biotechnology company to a Crown-owned business within a larger skincare and aesthetics platform.
For investors and researchers, the RVNC news feed serves as a historical record of key milestones, including strategic reviews by the Revance Board, tender offer mechanics, and the ultimate outcome of the Crown transaction. Users interested in the evolution of Revance’s aesthetic and therapeutic portfolio, its partnerships with Teoxane SA, Viatris Inc., and Shanghai Fosun Pharmaceutical, and the terms of the acquisition can use this page to trace the sequence of public communications around the deal.
Crown Laboratories, a privately held skincare company and Hildred Capital portfolio company, has completed its acquisition of Revance Therapeutics (NASDAQ: RVNC), a biotechnology company focused on aesthetic and therapeutic healthcare innovations. The acquisition aims to strengthen Crown's position in the skincare and aesthetics industry by combining both companies' resources and capabilities.
Crown's CEO Jeff Bedard emphasized that the merger enhances their ability to deliver innovative solutions across the three pillars of facial aesthetics – relax, restore, and regenerate. The combined entity will maintain Revance's partnership with Teoxane for the RHA® Collection in the U.S. market.
Crown Laboratories has successfully completed its acquisition of Revance Therapeutics (NASDAQ: RVNC) through a tender offer at $3.65 per share. The tender offer expired on February 4, 2025, with approximately 86,197,893 shares (82.0% of outstanding shares) validly tendered and accepted for payment.
Following the tender offer completion, Crown executed a second-step merger to finalize the acquisition. As a result, Revance's common stock will be delisted from the NASDAQ Global Select Market and deregistered under the Securities Exchange Act of 1934. Leerink Partners and PJT Partners served as financial advisors to Crown, while Kirkland & Ellis LLP and Lowenstein Sandler LLP provided legal counsel.
Crown Laboratories and Revance Therapeutics (NASDAQ: RVNC) announced the expiration of their tender offer, which concluded at 11:59 p.m. Eastern Time on February 4, 2025. The offer to purchase Revance shares at $3.65 per share resulted in 86,197,893 shares being validly tendered, representing 82.0% of outstanding shares.
All conditions for the tender offer have been met, and Crown, along with Reba Merger Sub, will promptly process payments for the tendered shares. The acquisition is expected to be completed on February 6, 2025. Centerview Partners is serving as Revance's financial advisor, while Crown is being advised by Leerink Partners and PJT Partners.
Crown Laboratories and Revance Therapeutics (NASDAQ: RVNC) remind stockholders to tender their shares for Crown's cash offer of $3.65 per share before February 4, 2025. The offer, unanimously approved by Revance's Board of Directors, is now the only acquisition offer available after Teoxane withdrew its previous proposal.
Teoxane, holding a 6.2% stake in Revance, has announced its intention to tender all its shares. As of January 30, 2025, approximately 10,946,712 shares (10.4313% of outstanding shares) have been validly tendered. The transaction requires more than 50% of shares to be tendered and is expected to close by February 6, 2025, subject to customary conditions.
Crown Laboratories and Revance Therapeutics (NASDAQ: RVNC) have amended their merger agreement, increasing the offer price to $3.65 per share, representing a $0.55 (17%) increase from the previous offer. The improved offer has been unanimously approved by Revance's Board of Directors.
Crown will extend its tender offer for all outstanding Revance shares until February 4, 2025. The transaction, which is the only fully-financed offer available to Revance stockholders, requires the tender of more than 50% of shares and is expected to close by February 6, 2025, with an outside termination date of February 7, 2025.
As of January 17, 2025, approximately 6,322,768 shares (6.025% of outstanding shares) have been validly tendered. Previously tendered shares do not need to be re-tendered.
Crown Laboratories has announced an extension of its cash tender offer to acquire Revance Therapeutics (RVNC) at $3.10 per share. The tender offer expiration has been extended from January 13, 2025, to January 28, 2025, at Revance's request. As of January 10, 2025, approximately 4,167,526 shares (3.97% of outstanding shares) have been validly tendered.
The proposed acquisition is expected to close in Q1 2025, subject to customary conditions, including the tender of at least a majority of outstanding shares. Previously tendered shares do not require re-tendering. Crown is a privately held global skincare company with distribution in over 50 countries, focusing on aesthetic, premium, and therapeutic skincare products.
Teoxane SA has submitted a proposal to acquire Revance Therapeutics (RVNC) for $3.60 per share in cash, representing a 16% premium over the $3.10 per share price in Revance's amended merger agreement with Crown Laboratories. Teoxane currently owns 6.2% of Revance's outstanding shares.
The company is prepared for a prompt transaction, requiring only due diligence due to their existing commercial relationship, where Teoxane's products contribute significantly to Revance's revenue through their Distribution Agreement. Teoxane anticipates minimal regulatory risks as their U.S. sales are already conducted through Revance's platform.
Teoxane, described as highly profitable with substantial cash reserves, is working with financial advisors to secure committed financing. The company commits to obtaining fully underwritten, binding commitment letters before signing a definitive agreement, with no financing contingency.
Crown Laboratories has initiated a cash tender offer to acquire all outstanding shares of Revance Therapeutics (Nasdaq: RVNC) at $3.10 per share, as per the Amended and Restated Merger Agreement dated December 7, 2024. The Revance Board unanimously recommends stockholders tender their shares, citing the offer's immediate liquidity and certainty of value. This recommendation follows a comprehensive review of strategic alternatives and market dynamics. The tender offer is set to expire at 11:59 p.m. Eastern Time on January 13, 2025, unless extended. The completion of the offer is subject to customary conditions, including the tender of a majority of Revance's voting shares. Post-tender, Crown plans a second-step merger to acquire remaining shares at the same price. Detailed terms are available on the SEC's website.
Crown Laboratories and Revance Therapeutics (NASDAQ: RVNC) have announced an amended merger agreement where Crown will acquire all outstanding Revance shares for $3.10 per share in cash through a tender offer. The amendment comes after several developments, including Revance's settlement with Teoxane regarding distribution agreements and revised brand guidelines, which are expected to materially impact Revance's future profitability.
The transaction is anticipated to close in Q1 2025, subject to stockholders tendering shares representing at least a majority of Revance's voting power. Post-merger, Revance will become wholly owned by Crown and will be delisted from Nasdaq. The tender offer is expected to commence on December 12, 2024, with Revance's Board unanimously recommending stockholders to tender their shares.
Revance provided a corporate update and reported its third quarter 2024 financial results. Key highlights include:
Merger Agreement: Revance and Crown Laboratories entered into a merger agreement, with Crown offering $6.66 per share for all outstanding Revance shares. The tender offer deadline was extended to November 12, 2024.
Distribution Agreements: Revance amended its agreement with Teoxane for U.S. distribution of RHA® dermal fillers and signed a new exclusive agreement for DAXXIFY® distribution in Australia and New Zealand.
China Approval: DAXXIFY was approved in China for improving glabellar lines.
Financials: Q3 2024 net revenue was $59.9 million, up 11% from Q3 2023. However, the company reported a net loss of $38.1 million. SG&A expenses decreased to $62.6 million, and R&D expenses were $11.4 million.
Guidance Withdrawn: Revance withdrew its 2024 financial guidance and will not hold a conference call for Q3 results.