iTeos (ITOS) Amends Tender Offer: $10.047 Cash plus CVR

iTeos Therapeutics filed an amendment to its Schedule 14D-9 regarding the tender offer by Concentra Biosciences to acquire all outstanding common shares.

Rhea-AI Filing Summary

iTeos Therapeutics filed an amendment to its Schedule 14D-9 regarding the tender offer by Concentra Biosciences to acquire all outstanding common shares. The Offer Price is specified as $10.047 per share in cash plus one non-transferable contractual contingent value right (CVR) per share. The amendment references the Offer to Purchase and Letter of Transmittal dated August 1, 2025, and the filing is signed by President and CEO Michel Detheux, Ph.D.

Positive

• Offer price disclosed: $10.047 in cash plus one CVR per share, giving shareholders a clear headline consideration
• Executive sign-off: Amendment signed by President and CEO Michel Detheux, indicating company-level authorization

Negative

• None.

Insights

Financial Analyst

TL;DR The amendment clarifies offer economics: $10.047 cash plus one CVR per share; no other financial details provided.

The filing is a narrow amendment to the previously filed Schedule 14D-9 and reiterates the takeover consideration: a fixed cash component and a contingent value right per share. There are no earnings, valuation bridge, financing details, or changes to the structure disclosed in this text. For investors, the material takeaway is the defined headline economics of the tender offer; additional documents would be required to assess valuation sufficiency or likelihood of closing.

Corporate Governance Expert

TL;DR This amendment affirms the company response to the tender offer and is executed by the CEO, with no governance changes described.

The amendment is procedural and focuses on the terms of the Offer to Purchase and related transmittal mechanics. It is signed by the chief executive, indicating executive-level authorization of the submission, but the content does not disclose board recommendations, conflicts, or changes to governance arrangements. The filing does not provide additional governance context or material corporate actions beyond the tender offer terms.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What does the SC 14D9/A state about the tender offer for iTeos (ITOS)?

The amendment confirms the tender offer by Concentra Biosciences includes $10.047 per share in cash plus one non-transferable CVR per share.

Who filed and signed the amendment to the Schedule 14D-9 for ITOS?

The amendment is filed by iTeos Therapeutics, Inc. and is signed by Michel Detheux, Ph.D., President and CEO.

Does the amendment change the Offer to Purchase or Letter of Transmittal dated August 1, 2025?

The amendment states it amends and supplements the Schedule 14D-9 with respect to the Offer to Purchase and Letter of Transmittal dated August 1, 2025.

Are there financial details like valuations, financing, or board recommendations in this amendment?

No. The provided content only discloses the offer consideration and signatory; it does not include valuations, financing terms, or board recommendations.

What is a CVR mentioned in the amendment?

Within this filing, a CVR is defined as a non-transferable contractual contingent value right granted per share; no further mechanics are described in this text.

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

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Accepted by SEC EDGAR 08/29/2025 - 08:54 AM Learn about SEC filing dates

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 14D-9

Solicitation/Recommendation Statement

Under Section 14(d)(4) of the Securities Exchange Act of 1934

(Amendment No.1)

iTeos Therapeutics, Inc.

(Name of Subject Company)

iTeos Therapeutics, Inc.

(Name of Persons Filing Statement)

COMMON STOCK, PAR VALUE $ 0.001 PER SHARE

(Title of Class of Securities)

46565G104

(CUSIP Number of Class of Securities)

Michel Detheux

Chief Executive Officer

iTeos Therapeutics, Inc.

321 Arsenal Street

Watertown, Massachusetts 02472

(339) 217 0161

(Name, address, and telephone number of person authorized to receive notices and communications

on behalf of the persons filing statement)

With a copy to:

William Michener

Nicholas Roper

Ropes & Gray LLP

Prudential Tower

800 Boylston Street

Boston, Massachusetts 02199

(617) 951-7000

☐ Check the box if the filing relates solely to preliminary communications made before the commencement of a tender offer.

This Amendment No. 1 (this “Amendment”) to Schedule 14D-9 amends and supplements the Schedule 14D-9 previously filed by iTeos Therapeutics, Inc., a Delaware corporation (“iTeos” or the “Company”), with the U.S. Securities and Exchange Commission (the “SEC”) on August 1, 2025 (as amended or supplemented from time to time, the “Schedule 14D-9”), with respect to the tender offer made by Concentra Biosciences, LLC, a Delaware limited liability company (“Parent”), to purchase all of the issued and outstanding shares of common stock, par value $0.001 per share, of the Company (the “Shares”), for (i) $10.047 per Share in cash (the “Cash Amount”) plus (ii) one non-transferable contractual contingent value right per Share (a “CVR,” and each CVR together with the Cash Amount, the “Offer Price”), all upon the terms and subject to the conditions as set forth in the Offer to Purchase, dated August 1, 2025 (as amended or supplemented from time to time, the “Offer to Purchase”), and in the related Letter of Transmittal (as amended or supplemented from time to time, the “Letter of Transmittal,” which, together with the Offer to Purchase, as each may be amended or supplemented from time to time, constitute the “Offer”).

The Offer is described in a Tender Offer Statement filed under cover of Schedule TO with the SEC on August 1, 2025, by Parent (as may be amended or supplemented from time to time).

Capitalized terms used in this Amendment but not defined herein shall have the respective meaning given to such terms in the Schedule 14D-9. The information set forth in the Schedule 14D-9 remains unchanged and is incorporated herein by reference, except that such information is hereby amended or supplemented to the extent specifically provided herein. This Amendment is being filed to disclose certain updates as reflected below.

ITEM 8. ADDITIONAL INFORMATION

Item 8 of the Schedule 14D-9 is hereby amended and supplemented by adding, immediately after the subsection titled “—Regulatory Approvals,” the following new subsection:

“Final Results of the Offer and Completion of the Merger

The Offer and related withdrawal rights expired at one minute after 11:59 p.m., Eastern time, on August 28, 2025 and were not further extended. Broadridge Corporate Issuer Solutions, LLC, the depositary and paying agent for the Offer, advised Parent that, as of the expiration of the Offer, a total of 32,226,407 Shares were validly tendered and not validly withdrawn, representing approximately 72.17% of the Shares outstanding as of the expiration of the Offer.

As of the expiration of the Offer, the number of Shares validly tendered in accordance with the terms of the Offer and not validly withdrawn satisfied the Minimum Tender Condition (as defined in the Merger Agreement), and all other conditions to the Offer were satisfied or waived. Immediately after the expiration of the Offer, Parent irrevocably accepted for payment all Shares validly tendered and not validly withdrawn, and expects to promptly pay for such Shares pursuant to the terms of the Offer and the Merger Agreement.

As a result of its acceptance of the Shares tendered pursuant to the Offer and in accordance with Section 251(h) of the DGCL, Parent owns a number of Shares that is greater than the percentage of Shares that would be required to adopt the Merger Agreement by a vote of iTeos’s stockholders. Accordingly, pursuant to the Merger Agreement, Parent completed the acquisition of iTeos on August 29, 2025 by consummating the Merger pursuant to the Merger Agreement without a vote of iTeos’s stockholders in accordance with Section 251(h) of the DGCL. At the Effective Time, each outstanding Share (other than (i) Shares held by iTeos immediately prior to the Effective Time, which were canceled without any conversion thereof and no consideration will be delivered in exchange therefor, (ii) any Shares held by stockholders or owned by beneficial owners who are entitled to demand, and have properly demanded, appraisal of such Shares in accordance with the DGCL and have neither failed to perfect nor effectively withdrawn or lost such rights prior to the Effective Time and (iii) Shares that were owned by Parent, Merger Sub or any other subsidiary of Parent at the commencement of the Offer and were owned by Parent, Merger Sub or any other subsidiary of Parent immediately prior to the Effective Time) was cancelled and converted into the right to receive the Offer Price, without interest and in each case, subject to applicable tax withholding, from Parent.

Prior to the opening of trading on the Nasdaq Stock Market LLC (“Nasdaq”) on August 29, 2025, all Shares ceased trading, and following the consummation of the Merger, all Shares will be delisted from Nasdaq and deregistered under the Securities Exchange Act of 1934, as amended.”

SIGNATURE

After due inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Date: August 29, 2025

iTeos Therapeutics, Inc.
By:		/s/ Michel Detheux, Ph.D.
		Michel Detheux, Ph.D.
		President and Chief Executive Officer