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Hanmi buys Aptose (OTC: APTOF) in all-cash deal at C$2.41 a share

(High)
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

Aptose Biosciences Inc. has completed its previously announced plan of arrangement under which HS North America Ltd., a wholly owned subsidiary of Hanmi Pharmaceutical, acquired all Aptose common shares not already owned by Hanmi and its affiliates.

Shareholders other than the Hanmi purchasers and their affiliates will receive C$2.41 in cash per share, a 28% premium to Aptose’s 30-day VWAP of C$1.88 on the TSX before the arrangement agreement. The transaction received shareholder and final court approval on March 31, 2026 and necessary regulatory approvals in Korea. Aptose’s common shares are expected to be delisted from the TSX on or about July 3, 2026, and the company has applied to cease being a reporting issuer in Canada and to terminate its public reporting obligations in both Canada and the United States.

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Insights

Hanmi buys Aptose at a 28% cash premium, ending its public listing.

The transaction gives Aptose shareholders a cash exit at C$2.41 per share, which is a 28% premium to the 30-day VWAP of C$1.88. That premium is clearly quantified, providing a concrete valuation benchmark for the take-private.

The deal was approved by shareholders and a court on March 31, 2026, and obtained required Korean regulatory clearances, indicating key closing conditions were satisfied. The company plans TSX delisting around July 3, 2026 and to terminate reporting obligations, so future disclosures will likely come through Hanmi rather than public markets.

Item 7.01 Regulation FD Disclosure Disclosure
Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Cash consideration per share C$2.41 per share Cash paid to Aptose shareholders other than Hanmi affiliates
30-day VWAP C$1.88 per share 30-day VWAP on TSX before entering arrangement agreement
Premium to VWAP 28% Premium of offer price over 30-day VWAP of C$1.88
Shareholder and court approval date March 31, 2026 Date the arrangement was approved by shareholders and received final court approval
Expected TSX delisting date On or about July 3, 2026 Expected date Aptose common shares are delisted from the TSX
plan of arrangement regulatory
"announced the closing of the plan of arrangement (announced on November 19, 2025 and February 24, 2026)"
A plan of arrangement is a formal, court-approved agreement that reorganizes ownership or assets of a company—such as merging businesses, exchanging shares for cash or other securities, or splitting off parts of the company. Investors should care because it can change the value, number, and rights of their holdings and is often binding once approved by both shareholders and a court, offering more legal certainty than a simple vote. Think of it as a legally supervised recipe for how a company will be reshaped and who ends up with what.
30-day VWAP financial
"represents a premium of 28% over Aptose’s 30-day VWAP of C$1.88 on the Toronto Stock Exchange"
Thirty-day VWAP is the average price at which a stock traded over the past 30 trading days, weighted by the number of shares traded at each price during that period. It matters to investors because it gives a clearer picture of the price buyers and sellers have actually paid—like a sales-weighted average for a store—and is used to judge whether current price action is fair, to benchmark trading performance, and to spot longer-term support or resistance levels.
reporting issuer regulatory
"submitted an application to cease to be a reporting issuer under applicable Canadian securities laws"
A reporting issuer is a company or investment fund legally required to provide regular, public financial and corporate updates to securities regulators and investors. For investors it matters because those routine filings act like a business’s recurring health reports—offering consistent, official information to assess performance, risks and value so people can make informed buy, sell or compare decisions.
forward-looking statements regulatory
"This press release contains forward-looking statements within the meaning of Canadian and U.S. securities laws"
Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.
precision oncology medical
"a clinical-stage precision oncology company developing a tuspetinib (TUS)-based triple drug frontline therapy"
Precision oncology uses detailed biological information from a patient’s tumor—like genetic changes or specific markers—to choose treatments most likely to work for that individual, much like tailoring a suit to a person’s measurements instead of selling one-size-fits-all clothing. It matters to investors because these targeted approaches can improve treatment success, support premium pricing and companion diagnostic tests, and shorten development and approval timelines, creating focused markets with both higher potential returns and specialized risks.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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FAQ

What did Hanmi pay to acquire Aptose Biosciences (APTOF)?

Hanmi, through HS North America Ltd., is paying C$2.41 in cash per Aptose share. This price represents a 28% premium to Aptose’s 30-day VWAP of C$1.88 on the TSX before the arrangement agreement, giving shareholders a defined cash exit.

How was the Aptose Biosciences (APTOF) acquisition by Hanmi approved?

The arrangement was approved by Aptose shareholders and a court on March 31, 2026. It also received the necessary regulatory approvals in Korea, satisfying key legal and regulatory conditions required to close the transaction under the plan of arrangement structure.

What happens to Aptose Biosciences (APTOF) stock after the Hanmi deal?

As a result of the arrangement, Aptose’s common shares are expected to be delisted from the TSX on or about July 3, 2026. The company has also applied to cease being a reporting issuer and terminate public reporting obligations in Canada and the United States.

Which Aptose (APTOF) shareholders receive the C$2.41 cash consideration?

The C$2.41 per share cash payment goes to Aptose shareholders other than the Hanmi purchasers and their affiliates that already hold common shares. Hanmi and its affiliated holders do not receive this consideration on shares they already own or control.

What premium does Hanmi’s acquisition offer Aptose (APTOF) investors?

The cash consideration of C$2.41 per share reflects a 28% premium to Aptose’s 30-day volume-weighted average price of C$1.88 on the TSX. This premium is calculated for the period immediately before entering into the arrangement agreement.

Did the Aptose Biosciences (APTOF) acquisition face any regulatory conditions?

Yes. Besides shareholder and court approvals, the arrangement obtained necessary regulatory approvals in Korea. These approvals, together with the March 31, 2026 court order, were key conditions enabling the closing of Hanmi’s acquisition of Aptose.
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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

_________________

FORM 8-K

_________________

CURRENT REPORT

Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported):  June 30, 2026

_______________________________

Aptose Biosciences Inc.

(Exact name of registrant as specified in its charter)

_______________________________

Canada001-3200198-1136802
(State or Other Jurisdiction of Incorporation)(Commission File Number)(I.R.S. Employer Identification No.)

66 Wellington Street West, Suite 5300

TD Bank Tower, Box 48

Toronto, Ontario M5K 1E6
Canada

(Address of Principal Executive Offices) (Zip Code)

(647) 479-9828

(Registrant's telephone number, including area code)

 

(Former name or former address, if changed since last report)

_______________________________

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each classTrading Symbol(s)Name of each exchange on which registered
NoneN/AN/A

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 
 
Item 7.01. Regulation FD Disclosure.

On June 30, 2026, the Registrant issued a press release, a copy of which is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

In accordance with General Instruction B.2 of Form 8-K, the information in the press release attached as Exhibit 99.1 hereto shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

Exhibit Number Description
   
99.1 Press Release dated June 30, 2026
104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
 
 

SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 Aptose Biosciences Inc.
   
  
Date: June 30, 2026By: /s/ William G. Rice, Ph.D.        
  William G. Rice, Ph.D.
  Chairman, President, and Chief Executive Officer
  

 

EXHIBIT 99.1

Aptose Biosciences Announces Completion of Acquisition by Hanmi Pharmaceutical

SAN DIEGO and TORONTO, June 30, 2026 (GLOBE NEWSWIRE) -- Aptose Biosciences Inc. (“Aptose” or the “Company”) (TSX: APS and OTC: APTOF), a clinical-stage precision oncology company developing a tuspetinib (TUS)-based triple drug frontline therapy to treat patients with newly diagnosed acute myeloid leukemia (AML), today announced the closing of the plan of arrangement (announced on November 19, 2025 and February 24, 2026) pursuant to which HS North America Ltd. (the “Purchaser”), a wholly owned subsidiary of Hanmi Pharmaceutical Co. Ltd. (“Hanmi”, and together with the Purchaser, the “Hanmi Purchasers”) acquired all of the issued and outstanding common shares of Aptose (the “Common Shares”) that were not currently owned or controlled by the Hanmi Purchasers or their respective affiliates (the “Arrangement”).

Under the terms of the amended and restated arrangement agreement among Aptose and the Hanmi Purchasers dated February 23, 2026, Aptose shareholders, other than the Hanmi Purchasers and their respective affiliates that hold any Common Shares, will receive C$2.41 in cash per Common Share, which represents a premium of 28% over Aptose’s 30-day VWAP of C$1.88 on the Toronto Stock Exchange (“TSX”) for the period immediately preceding entering into the Arrangement Agreement.

The Arrangement received approval from the Company’s shareholders at a special meeting held on March 31, 2026, and the Arrangement received final court approval on the same date. The Arrangement has also received the necessary regulatory approvals in Korea.

As a result of the Arrangement, the Common Shares are expected to be delisted from the TSX at the close of trading on or about July 3, 2026. The Company has submitted an application to cease to be a reporting issuer under applicable Canadian securities laws and to otherwise terminate the Company’s public reporting requirements in the United States and Canada.

About Aptose

Aptose Biosciences is a clinical-stage biotechnology company committed to developing precision medicines addressing unmet medical needs in oncology, with an initial focus on hematology. The Company's small molecule cancer therapeutics pipeline includes products designed to provide single agent efficacy and to enhance the efficacy of other anti-cancer therapies and regimens without overlapping toxicities. The Company’s lead clinical-stage compound tuspetinib (TUS), is an oral kinase inhibitor that has demonstrated activity as a monotherapy and in combination therapy in patients with relapsed or refractory acute myeloid leukemia (AML) and is being developed as a frontline triplet therapy in newly diagnosed AML. For more information, please visit www.aptose.com.

About Hanmi

Hanmi Pharmaceutical Co., Ltd. is a research-driven pharmaceutical company headquartered in Seoul, South Korea, and serves as the core operating subsidiary of Hanmi Science, the Group’s holding company. Founded in 1973, Hanmi is committed to developing innovative therapies that address significant unmet medical needs across oncology, metabolic and rare diseases, immunology, and inflammation. Hanmi Pharmaceutical’s pipeline spans innovative biologics and small-molecule candidates, supported by proprietary drug development platforms and a portfolio of established medicines. As part of the Hanmi Science Group, Hanmi Pharmaceutical actively pursues global partnerships and licensing collaborations with leading multinational pharmaceutical companies to advance its therapies to patients worldwide. For more information, please visit www.hanmipharm.com.

Forward Looking Statements

This press release contains forward-looking statements within the meaning of Canadian and U.S. securities laws, including, but not limited to, statements regarding the Company’s clinical development plans, the clinical potential, anti-cancer activity, therapeutic potential and applications and safety profile of tuspetinib, clinical trials, statements relating to the completion of the Arrangement, and other statements including words such as “continue”, “expect”, “intend”, “will”, “hope”, “should”, “would”, “may”, “potential” and other similar expressions. Such statements reflect our current views with respect to future events and are subject to risks and uncertainties and are necessarily based upon a number of estimates and assumptions that, while considered reasonable by us, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors could cause our actual results, performance or achievements to be materially different from any future results, performance or achievements described in this press release. Such factors could include, among others: the possibility that the Common Shares will not be delisted from the TSX in accordance with the timing currently contemplated, and that the Common Shares may not be delisted at all, due to a failure to satisfy, in a timely manner or otherwise, conditions necessary to delist the Common Shares from the TSX or for other reasons.

Should one or more of these risks or uncertainties materialize, or should the assumptions set out in the section entitled "Risk Factors" in our filings with Canadian securities regulators and the United States Securities and Exchange Commission underlying those forward-looking statements prove incorrect, actual results may vary materially from those described herein. These forward-looking statements are made as of the date of this press release and we do not intend, and do not assume any obligation, to update these forward-looking statements, except as required by law. We cannot assure you that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Investors are cautioned that forward-looking statements are not guarantees of future performance and accordingly investors are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty therein.

For further information, please contact:

Aptose Biosciences Inc.
Susan Pietropaolo 
Corporate Communications & Investor Relations 
201-923-2049
spietropaolo@aptose.com

Filing Exhibits & Attachments

5 documents