Agile Therapeutics Inc. Announces Completion of Acquisition by Insud Pharma, S.L.
Agile Therapeutics, Inc. (OTCQB: AGRX) has announced the completion of its acquisition by Insud Pharma, S.L., a global pharmaceutical group based in Spain. The transaction, approved by Agile shareholders on August 22, 2024, values Agile at approximately $45 million. Former Agile common stockholders will receive $1.52 per share in cash, net of assumed liabilities and estimated transaction costs.
As a result of the acquisition, Agile has combined with Insud Pharma's US subsidiary, Exeltis USA, Inc., expanding their women's health and contraceptive portfolio. Agile will now operate as an indirect subsidiary of Insud and will cease to be listed on any public market, including the OTC QB.
H.C. Wainwright & Co. served as the exclusive financial advisor to Agile Therapeutics, while Morgan, Lewis & Bockius LLP acted as its legal advisor. Insud Pharma and Exeltis USA were advised legally by Loeb & Loeb LLP and RC Law LLP.
Agile Therapeutics, Inc. (OTCQB: AGRX) ha annunciato il completamento della sua acquisizione da parte di Insud Pharma, S.L., un gruppo farmaceutico globale con sede in Spagna. La transazione, approvata dagli azionisti di Agile il 22 agosto 2024, valuta Agile circa 45 milioni di dollari. Gli ex azionisti comuni di Agile riceveranno 1,52 dollari per azione in contanti, al netto delle passività assunte e dei costi stimati per la transazione.
Come risultato dell'acquisizione, Agile si è unita alla consociata statunitense di Insud Pharma, Exeltis USA, Inc., ampliando il loro portafoglio per la salute delle donne e contraccettivi. Agile opererà ora come una consociata indiretta di Insud e cesserà di essere quotata su qualsiasi mercato pubblico, inclusa la OTC QB.
H.C. Wainwright & Co. ha fungito da consulente finanziario esclusivo per Agile Therapeutics, mentre Morgan, Lewis & Bockius LLP ha agito come consulente legale. Insud Pharma ed Exeltis USA sono state assistite legalmente da Loeb & Loeb LLP e RC Law LLP.
Agile Therapeutics, Inc. (OTCQB: AGRX) ha anunciado la culminación de su adquisición por parte de Insud Pharma, S.L., un grupo farmacéutico global con sede en España. La transacción, aprobada por los accionistas de Agile el 22 de agosto de 2024, valora a Agile en aproximadamente 45 millones de dólares. Los antiguos accionistas comunes de Agile recibirán 1.52 dólares por acción en efectivo, neto de las obligaciones asumidas y de los costos estimados de la transacción.
Como resultado de la adquisición, Agile se ha combinado con la filial estadounidense de Insud Pharma, Exeltis USA, Inc., ampliando su cartera de salud de la mujer y anticonceptivos. Ahora, Agile funcionará como una subsidiaria indirecta de Insud y dejará de estar listada en cualquier mercado público, incluida la OTC QB.
H.C. Wainwright & Co. actuó como asesor financiero exclusivo para Agile Therapeutics, mientras que Morgan, Lewis & Bockius LLP fue su asesor legal. Insud Pharma y Exeltis USA fueron asesoradas legalmente por Loeb & Loeb LLP y RC Law LLP.
Agile Therapeutics, Inc. (OTCQB: AGRX)는 스페인에 본사를 둔 글로벌 제약 그룹 Insud Pharma, S.L.에 인수되었다고 발표했습니다. 이 거래는 2024년 8월 22일 Agile 주주에 의해 승인 되었으며, Agile의 가치는 약 4500만 달러로 평가됩니다. 이전 Agile 보통주주들은 가정된 부채 및 예상 거래 비용을 제외하고 주당 1.52 달러를 현금으로 받게 됩니다.
인수 결과 Agile은 Insud Pharma의 미국 자회사인 Exeltis USA, Inc.와 통합되어 여성 건강 및 피임제 포트폴리오를 확장하였습니다. Agile은 이제 Insud의 간접 자회사로 운영되며, 모든 공개 시장에 상장되지 않게 됩니다, OTC QB를 포함하여.
H.C. Wainwright & Co.는 Agile Therapeutics의 독점 금융 자문사로 활동했으며, Morgan, Lewis & Bockius LLP는 법률 자문을 제공했습니다. Insud Pharma와 Exeltis USA는 Loeb & Loeb LLP 및 RC Law LLP의 법률 자문을 받았습니다.
Agile Therapeutics, Inc. (OTCQB: AGRX) a annoncé l'achèvement de son acquisition par Insud Pharma, S.L., un groupe pharmaceutique mondial basé en Espagne. La transaction, approuvée par les actionnaires d'Agile le 22 août 2024, évalue Agile à environ 45 millions de dollars. Les anciens actionnaires d'Agile recevront 1,52 dollar par action en espèces, net des passifs assumés et des coûts de transaction estimés.
À la suite de cette acquisition, Agile a fusionné avec la filiale américaine d'Insud Pharma, Exeltis USA, Inc., élargissant ainsi leur portefeuille en santé des femmes et en contraceptifs. Agile fonctionnera désormais comme une filiale indirecte d'Insud et cessera d'être cotée sur tout marché public, y compris la OTC QB.
H.C. Wainwright & Co. a agi en tant que conseiller financier exclusif pour Agile Therapeutics, tandis que Morgan, Lewis & Bockius LLP a été son conseiller juridique. Insud Pharma et Exeltis USA ont été légalement conseillés par Loeb & Loeb LLP et RC Law LLP.
Agile Therapeutics, Inc. (OTCQB: AGRX) hat den Abschluss ihrer Übernahme durch Insud Pharma, S.L., eine globale Pharmagruppe mit Sitz in Spanien, bekannt gegeben. Die Transaktion, die am 22. August 2024 von den Aktionären von Agile genehmigt wurde, bewertet Agile mit etwa 45 Millionen Dollar. Ehemalige reguläre Aktionäre von Agile erhalten 1,52 Dollar pro Aktie in bar, abzüglich der übernommenen Verbindlichkeiten und der geschätzten Transaktionskosten.
Infolge der Übernahme hat sich Agile mit der US-Tochtergesellschaft von Insud Pharma, Exeltis USA, Inc., zusammengeschlossen und das Portfolio für Frauenheilkunde und Verhütungsmittel erweitert. Agile wird nun als indirekte Tochtergesellschaft von Insud agieren und wird nicht mehr an einer öffentlichen Börse gelistet sein, einschließlich der OTC QB.
H.C. Wainwright & Co. fungierte als exklusive Finanzberatung für Agile Therapeutics, während Morgan, Lewis & Bockius LLP als rechtlicher Berater tätig war. Insud Pharma und Exeltis USA wurden rechtlich von Loeb & Loeb LLP und RC Law LLP beraten.
- Acquisition provides Agile shareholders with a cash payout of $1.52 per share
- Transaction values Agile at approximately $45 million enterprise value
- Combination with Exeltis USA expands the women's health and contraceptive portfolio
- Merger with a global pharmaceutical group may provide access to broader markets and resources
- Agile will no longer be publicly traded, limiting liquidity for remaining shareholders
- Shareholders lose potential future upside as the company goes private
Agile Therapeutics has combined with Insud Pharma’s US Subsidiary, Exeltis USA, Inc., expanding an already significant women’s health/contraceptive portfolio
Agile Therapeutics Common Shareholders to receive
Agile common stock will cease to be listed on the OTC QB
PRINCETON, N.J., Aug. 26, 2024 (GLOBE NEWSWIRE) -- Agile Therapeutics, Inc. (“Agile”) (OTCQB: AGRX), a women's healthcare company, today announced the completion of the acquisition of Agile by Insud Pharma, S.L. (“Insud”) a global pharmaceutical group based in Spain with a 45-year track record and a presence in over 50 countries.
The former holders of Agile common stock voted to approve the acquisition at a special meeting of stockholders on August 22, 2024. Upon closing of the acquisition, former shareholders of Agile became entitled to receive
Insud completed its acquisition of Agile through the merger of an indirect, wholly owned subsidiary of Insud with and into Agile, with Agile continuing as the surviving company and becoming an indirect subsidiary of Insud, pursuant to a definitive merger agreement dated as of June 25, 2024. With the completion of the transaction, Agile will no longer be listed on any public market.
Advisors
H.C. Wainwright & Co. acted as exclusive financial advisor to Agile Therapeutics, Inc. and Morgan, Lewis & Bockius LLP acted as its legal advisor. Loeb & Loeb LLP and RC Law LLP acted as legal advisors to Insud Pharma, S.L. and Exeltis USA, Inc.
About Agile Therapeutics, Inc.
Agile Therapeutics is a women's healthcare company dedicated to fulfilling the unmet health needs of today’s women. Our product and product candidates are designed to provide women with contraceptive options that offer freedom from taking a daily pill, without committing to a longer-acting method. Our initial product, Twirla®, (levonorgestrel and ethinyl estradiol), a transdermal system, is a non-daily prescription contraceptive. Twirla is based on our proprietary transdermal patch technology, called Skinfusion®, which is designed to allow drug delivery through the skin. For more information, please visit the company website at www.agiletherapeutics.com. The Company may occasionally disseminate material, nonpublic information on the Company’s website and LinkedIn account.
About Twirla®
Twirla (levonorgestrel and ethinyl estradiol) transdermal system is a once-weekly combined hormonal contraceptive (CHC) patch that contains the active ingredients levonorgestrel (LNG), a type of progestin, and ethinyl estradiol (EE), a type of estrogen. Twirla is indicated for use as a method of contraception by women of reproductive potential with a body mass index (BMI) < 30 kg/m2 for whom a combined hormonal contraceptive is appropriate. Healthcare providers (HCPs) are encouraged to consider Twirla’s reduced efficacy in women with a BMI ≥ 25 to <30 kg/m2 before prescribing. Twirla is contraindicated in women with a BMI ≥ 30 kg/m2. Twirla is also contraindicated in women over 35 years old who smoke.
Cigarette smoking increases the risk of serious cardiovascular events from CHC use. Twirla is designed to be applied once weekly for three weeks, followed by a week without a patch.
About Insud Pharma
Insud Pharma is a pharmaceutical group with more than 45 years of history, presence in around 50 countries, 9,000 employees worldwide and 20 manufacturing plants.
Insud Pharma operates throughout the value chain of the pharmaceutical industry, offering specialized knowledge in scientific research, development, manufacturing, sale and marketing of a wide range of active pharmaceutical ingredients (APIs), finished dosage forms (FDFs) and pharmaceutical products of brand for the care of humans and animals and biopharmaceuticals.
Insud Pharma seeks to improve health throughout the world by providing accessible, effective, safe and quality pharmacological treatments through its different business units, with continuous investment in R&D and the latest technology.
Forward Looking Statements
This communication contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. We may, in some cases use terms such as “predicts,” “believes,” “potential,” “continue,” “anticipates,” “estimates,” “expects,” “plans,” “intends,” “may,” “could,” “might,” “likely,” “will,” “should” or other words that convey uncertainty of the future events or outcomes to identify these forward-looking statements. Our forward-looking statements are based on current beliefs and expectations of our management team that involve risks, potential changes in circumstances, assumptions, and uncertainties, including statements concerning the Company’s plans, objectives, strategy and strategic objectives, future events, business conditions, results of operations, business outlook and other information may be forward looking statements. Any or all of the forward-looking statements may turn out to be wrong or be affected by inaccurate assumptions we might make or by known or unknown risks and uncertainties. These forward-looking statements are subject to risks and uncertainties including (i) the effect of the announcement or pendency of the merger on the Company’s business relationships, operating results and business generally, (ii) the risk that the merger disrupts the Company’s current plans and operations and potential difficulties in the Company’s employee retention as a result of the merger, (iii) the outcome of any legal proceedings that may be instituted against the Company related to the merger agreement or the merger, and (iv) the risk that the merger and its announcement could have an adverse effect on the ability of the Company to retain and hire key personnel and to maintain relationships with customers, vendors, employees, stockholders and other business partners and on its operating results and business generally. The foregoing list of risk factors is not exhaustive. For a more detailed description of the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to our business in general, please refer to our Annual Report on Form 10-K and our Quarterly Reports on Form 10-Q. You are cautioned not to place undue reliance on these forward-looking statements, which are made only as of the date of this press release. We undertake no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances. The Company does not give any assurances that it will achieve its expectations.
Contact:
For Agile:
Agile Therapeutics Investor Relations
ir@agiletherapeutics.com
For Insud:
Communication Department
Edificio Ebrosa - Manuel Pombo Angulo, 28 3rd floor
28050 Madrid, Spain.
Tel: +34 91 771 15 00
E-mail: comunicacion@insudpharma.com
FAQ
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