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Nuvalent Inc. (NASDAQ: NUVL) Holders Tender 91% in $124 GSK Deal

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
SC TO-T/A

Rhea-AI Filing Summary

GSK plc, through GlaxoSmithKline LLC and Harmony Row Acquisition Co., has completed its cash tender offer for all Class A and Class B shares of Nuvalent, Inc. at $124.00 per Share, net to sellers in cash, without interest and subject to applicable withholding taxes.

As of one minute following 11:59 p.m. Eastern Time on July 14, 2026, 72,518,967 Shares (67,083,713 Class A and 5,435,254 Class B) had been validly tendered and not withdrawn, representing about 91.3% of issued and outstanding shares, including 90.7% of Class A and 100.0% of Class B. The Minimum Tender Condition and all other offer conditions were satisfied, and all such shares have been irrevocably accepted for payment.

Because Purchaser now holds more than the percentage of shares required to adopt the Merger Agreement, GSK plans to effect a Section 251(h) merger as soon as practicable without a stockholder meeting. After the merger, Nuvalent shares will be delisted from Nasdaq and their registration under the Exchange Act will be terminated.

Positive

  • None.

Negative

  • None.
Offer price per share $124.00 per Share Cash consideration for each Class A and Class B share of Nuvalent
Total shares tendered 72,518,967 Shares Validly tendered and not withdrawn as of the Offer Expiration Time
Class A shares tendered 67,083,713 Class A Shares Portion of total shares tendered at the Offer Expiration Time
Class B shares tendered 5,435,254 Class B Shares Portion of total shares tendered at the Offer Expiration Time
Percentage of outstanding shares tendered 91.3% of Shares Proportion of issued and outstanding shares tendered at expiration
Percentage of Class A shares tendered 90.7% of Class A Shares Proportion of issued and outstanding Class A shares tendered at expiration
Percentage of Class B shares tendered 100.0% of Class B Shares Proportion of issued and outstanding Class B shares tendered at expiration
Offer expiration date July 14, 2026 Offer and withdrawal rights expired at one minute following 11:59 p.m. Eastern Time
Minimum Tender Condition regulatory
"Accordingly, the Minimum Tender Condition has been satisfied."
Offer Expiration Time regulatory
"such date and time, the “Offer Expiration Time”), and was not extended."
Section 251(h) of the DGCL regulatory
"in accordance with Section 251(h) of the DGCL, Purchaser owns a number of Shares"
Surviving Corporation regulatory
"with the Company continuing as the Surviving Corporation in the Merger"
Exchange Act regulatory
"termination of the registration of the Shares under the Exchange Act and suspend reporting"
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FAQ

What price is GSK paying per Nuvalent (NUVL) share in the tender offer?

GSK is offering $124.00 per Share in cash for each Class A and Class B share of Nuvalent, Inc., net to the seller in cash, without interest and subject to any applicable withholding taxes under the merger agreement terms.

How many Nuvalent (NUVL) shares were tendered and what percentage of the company do they represent?

Holders tendered 72,518,967 Shares, comprising 67,083,713 Class A and 5,435,254 Class B shares. This represents about 91.3% of Nuvalent’s issued and outstanding shares, including 90.7% of Class A and 100.0% of Class B at expiration.

When did the Nuvalent (NUVL) tender offer expire and was it extended?

The offer and withdrawal rights expired at one minute following 11:59 p.m. Eastern Time on July 14, 2026, defined as the Offer Expiration Time. The offer expired as scheduled and was not extended beyond that time.

Were the conditions to GSK’s tender offer for Nuvalent (NUVL) satisfied?

Yes. With approximately 91.3% of Nuvalent shares tendered, the Minimum Tender Condition and all other conditions to the offer were satisfied. Purchaser irrevocably accepted for payment all validly tendered and not withdrawn shares.

What will happen next to Nuvalent (NUVL) following GSK’s tender offer?

GSK, through its subsidiaries, intends to complete a Section 251(h) merger as soon as practicable without a stockholder meeting, after which Nuvalent will become a wholly owned subsidiary and its shares will be delisted from Nasdaq.

What will happen to Nuvalent (NUVL) stock listing and SEC reporting after the merger?

Following consummation of the merger, all Nuvalent shares will be delisted from Nasdaq. GSK’s acquisition entities also plan to terminate registration of the shares under the Exchange Act and suspend all of Nuvalent’s reporting obligations.
 
 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

SCHEDULE TO

Tender Offer Statement under Section 14(d)(1) or 13(e)(1)

of the Securities Exchange Act of 1934

(Amendment No. 4)

 

 

NUVALENT, INC.

(Name of Subject Company (Issuer))

HARMONY ROW ACQUISITION CO.,

GLAXOSMITHKLINE LLC

and

GSK PLC

(Names of Filing Persons - Offerors)

Class A Common Stock, par value $0.0001 per share

Class B Common Stock, par value $0.0001 per share

(Title of Class of Securities)

670703107*

(CUSIP Number of Class of Securities)

David Rea

GlaxoSmithKline LLC

1250 South Collegeville Road

Collegeville, PA 19426

+1 215-219-7521

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications on Behalf of Filing Persons)

 

 

Copy to:

William J. Chudd

Daniel Brass

Davis Polk & Wardwell LLP

450 Lexington Avenue

New York, New York 10017

+1 212-450-4000

 

 

 

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

Check the appropriate boxes below to designate any transactions to which the statement relates:

 

 

Third-party tender offer subject to Rule 14d-1.

 

Going-private transaction subject to Rule 13e-3.

 

Third-party tender offer subject to Rule 14d-1.

 

Amendment to Schedule 13D under Rule 13d-2.

Check the following box if the filing is a final amendment reporting the results of the tender offer: ☐

If applicable, check the appropriate box(es) below to designate the appropriate rule provision(s) relied upon:

 

 

Rule 13e-4(i) (Cross-Border Issuer Tender Offer)

 

Rule 14d-1(d) (Cross-Border Third-Party Tender Offer)

 

*

This CUSIP number applies to the issuer’s Class A Common Stock.

 

 
 


This Amendment No. 4 (this “Amendment”) amends and supplements the Tender Offer Statement on Schedule TO (together with any amendments and supplements thereto, including this Amendment, the “Schedule TO”) filed by (i) GSK plc, a public limited company organized under the laws of England and Wales (“Ultimate Parent”), (ii) GlaxoSmithKline LLC, a Delaware limited liability company and an indirect wholly-owned subsidiary of Ultimate Parent (“Parent”), and (iii) Harmony Row Acquisition Co., a Delaware corporation (“Purchaser”) and a direct wholly-owned subsidiary of Parent. The Schedule TO relates to the offer by Purchaser to purchase all of the issued and outstanding shares of the Class A Common Stock, par value $0.0001 per share (the “Class A Shares”), and Class B Common Stock, par value $0.0001 per share (the “Class B Shares” and, together with the Class A Shares, the “Shares”), of Nuvalent, Inc., a Delaware corporation (the “Company”), for $124.00 per Share, net to the seller in cash, without interest (such consideration as it may be increased from time to time pursuant to the terms of the Merger Agreement (as defined below), the “Offer Price”), subject to any applicable withholding taxes, and upon the terms and subject to the conditions set forth in the Offer to Purchase, dated June 24, 2026 (together with any amendments or supplements thereto, the “Offer to Purchase”) and in the accompanying letter of transmittal (together with any amendments or supplements thereto, the “Letter of Transmittal” which, together with the Offer to Purchase and other related materials, as they may be amended or supplemented from time to time, collectively constitute the “Offer”), copies of which are annexed to and filed with the Schedule TO as Exhibits (a)(1)(A) and (a)(1)(B), respectively.

All information contained in the Offer to Purchase (including Schedule I to the Offer to Purchase) and the accompanying Letter of Transmittal is hereby expressly incorporated herein by reference in response to Items 1 through 9 and Item 11 of the Schedule TO and is supplemented by the information specifically provided in this Amendment. This Amendment should be read together with the Schedule TO. Capitalized terms used and not otherwise defined in this Amendment have the meanings given to such terms in the Offer to Purchase.

Item 1 through 9; Item 11.

The Offer to Purchase and Items 1 through 9 and Item 11 of the Schedule TO, to the extent such Items incorporate by reference the information contained in the Offer to Purchase, are hereby amended and supplemented as follows:

“The Offer and withdrawal rights expired, as scheduled, at one minute following 11:59 P.M., Eastern Time, on July 14, 2026 (such date and time, the “Offer Expiration Time”), and was not extended. Purchaser was advised by the Depositary that, as of the Offer Expiration Time, a total of 72,518,967 Shares (comprising a total of 67,083,713 Class A Shares and 5,435,254 Class B Shares) had been validly tendered and not validly withdrawn pursuant to the Offer, representing approximately 91.3% of the issued and outstanding Shares as of the Offer Expiration Time (comprising approximately 90.7% of the issued and outstanding Class A Shares and 100.0% of the issued and outstanding Class B Shares as of the Offer Expiration Time, respectively). Accordingly, the Minimum Tender Condition has been satisfied.

All conditions to the Offer having been satisfied, Purchaser irrevocably accepted for payment, and will cause the Depositary to pay for, as promptly as practicable, all Shares validly tendered and not validly withdrawn pursuant to the Offer.

As a result of its acceptance of the Shares tendered pursuant to the Offer and in accordance with Section 251(h) of the DGCL, Purchaser 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 the stockholders of the Company. Pursuant to Section 251(h) of the DGCL, Ultimate Parent, Parent and Purchaser intend to complete the acquisition of the Company through the Merger, as soon as practicable and without a meeting of stockholders of the Company, with the Company continuing as the Surviving Corporation in the Merger and a direct wholly-owned subsidiary of Parent.

Following the consummation of the Merger, all Shares will be delisted from the Nasdaq. Ultimate Parent, Parent and Purchaser intend to take steps to cause the termination of the registration of the Shares under the Exchange Act and suspend all of the Company’s reporting obligations under the Exchange Act as promptly as practicable.”

 

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SIGNATURES

After due inquiry and to the best knowledge and belief of the undersigned, each of the undersigned certifies that the information set forth in this statement is true, complete and correct.

Date: July 15, 2026

 

GLAXOSMITHKLINE LLC
By:  

/s/ Justin Huang

  Name:   Justin Huang
  Title:   Secretary
HARMONY ROW ACQUISITION CO.
By:  

/s/ Justin Huang

  Name:   Justin Huang
  Title:   President and Secretary
GSK PLC
By:  

/s/ David Redfern

  Name:   David Redfern
  Title:   Authorized Signatory

 

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