Roche purchases shares in tender offer for Poseida Therapeutics, Inc.
Roche has successfully completed its tender offer for Poseida Therapeutics shares, with approximately 64,991,586 shares (66.11% of total outstanding) validly tendered at $9.00 per share in cash, plus a non-tradeable contingent value right (CVR) worth up to $4.00 per share in additional contingent payments.
Through its subsidiary Blue Giant Acquisition Corp., Roche will proceed with the merger, converting all remaining Poseida shares not owned by either company into the same consideration offered in the tender. Following the merger completion, Poseida will become a wholly owned Roche subsidiary, and its shares will be delisted from the Nasdaq Global Select Market.
Roche ha completato con successo la sua offerta pubblica di acquisto per le azioni di Poseida Therapeutics, con circa 64.991.586 azioni (66,11% del totale in circolazione) valide per l'adesione a $9,00 per azione in contante, oltre a un diritto di valore contingente non negoziabile (CVR) dal valore massimo di $4,00 per azione in pagamenti aggiuntivi contingenti.
Attraverso la sua controllata Blue Giant Acquisition Corp., Roche procederà con la fusione, convertendo tutte le azioni rimanenti di Poseida non possedute da nessuna delle due aziende nella medesima considerazione offerta nell'adesione. Al termine della fusione, Poseida diventerà una controllata interamente posseduta da Roche e le sue azioni saranno rimosse dal Nasdaq Global Select Market.
Roche ha completado con éxito su oferta pública de adquisición de acciones de Poseida Therapeutics, con aproximadamente 64.991.586 acciones (66,11% del total en circulación) válidamente ofrecidas a $9,00 por acción en efectivo, más un derecho contingente de valor no negociable (CVR) que vale hasta $4,00 por acción en pagos contingentes adicionales.
A través de su subsidiaria Blue Giant Acquisition Corp., Roche procederá con la fusión, convirtiendo todas las acciones restantes de Poseida que no son propiedad de ninguna de las dos empresas en la misma consideración ofrecida en la oferta. Tras la finalización de la fusión, Poseida se convertirá en una subsidiaria completamente propiedad de Roche y sus acciones serán deslistadas del Nasdaq Global Select Market.
로슈는 포세이다 테라퓨틱스의 주식에 대한 입찰 공고를 성공적으로 완료하였으며, 약 64,991,586주(전체 발행 주식의 66.11%)가 유효하게 제출되어 주당 $9.00의 현금으로 거래되었고, 추가적인 조건부 지급을 위한 비거래 가능한 조건부 가치 권리(CVR)의 가치가 주당 최대 $4.00에 해당합니다.
로슈는 자회사인 블루 자이언트 인수 법인을 통해 합병을 진행할 것이며, 두 회사 중 어느 회사도 소유하지 않은 나머지 포세이다 주식을 입찰에서 제안된 것과 같은 대가로 전환할 것입니다. 합병 완료 후 포세이다는 로슈의 완전 소유 자회사가 되며, 그 주식은 나스닥 글로벌 셀렉트 마켓에서 상장 폐지됩니다.
Roche a réussi à finaliser son offre publique d'achat pour les actions de Poseida Therapeutics, avec environ 64.991.586 actions (66,11 % du total en circulation) valablement soumises à 9,00 $ par action en espèces, plus un droit de valeur conditionnelle non négociable (CVR) d'une valeur pouvant atteindre 4,00 $ par action en paiements conditionnels supplémentaires.
Par l'intermédiaire de sa filiale Blue Giant Acquisition Corp., Roche procédera à la fusion, convertissant toutes les actions restantes de Poseida non détenues par l'une ou l'autre société dans la même contrepartie proposée dans l'offre. Suite à l'achèvement de la fusion, Poseida deviendra une filiale entièrement détenue de Roche, et ses actions seront retirées du Nasdaq Global Select Market.
Roche hat erfolgreich sein Übernahmeangebot für die Aktien von Poseida Therapeutics abgeschlossen, wobei rund 64.991.586 Aktien (66,11% der insgesamt ausstehenden) zu einem Preis von 9,00 $ pro Aktie in bar gültig angeboten wurden, zuzüglich eines nicht handelbaren bedingten Wertrechts (CVR), das bis zu 4,00 $ pro Aktie an zusätzlichen bedingten Zahlungen wert ist.
Über ihre Tochtergesellschaft Blue Giant Acquisition Corp. wird Roche mit der Fusion fortfahren und alle verbleibenden Poseida-Aktien, die sich nicht im Besitz eines der beiden Unternehmen befinden, in die gleiche Gegenleistung umwandeln, die im Angebot gemacht wurde. Nach Abschluss der Fusion wird Poseida eine vollständig im Besitz von Roche befindliche Tochtergesellschaft und ihre Aktien werden vom Nasdaq Global Select Market abgezogen.
- Successful acquisition of 66.11% of Poseida shares through tender offer
- Strategic expansion of Roche's portfolio through complete ownership of Poseida
- Structured deal with immediate cash payment plus potential additional value through CVR
- Significant cash outlay required for acquisition
- Additional contingent payment obligations of up to $4.00 per share
Basel, 8 January 2025 – Roche (SIX: RO, ROG; OTCQX: RHHBY) announced today that Roche’s wholly owned subsidiary Blue Giant Acquisition Corp. has accepted for payment all shares validly tendered and not validly withdrawn pursuant to its tender offer for all outstanding shares of common stock of Poseida Therapeutics, Inc. (“Poseida”, NASDAQ: PSTX) at a price of
Citibank, N.A., the depositary for the tender offer, advised Roche that a total of approximately 64,991,586 shares of Poseida’s common stock were validly tendered and not validly withdrawn in the tender offer (excluding shares tendered by notice of guaranteed delivery for which certificates have not yet been “received”), which represent approximately
Later today, Roche intends to complete the acquisition of Poseida through a merger of Blue Giant Acquisition Corp. with and into Poseida without a vote or meeting of Poseida’s stockholders. In the merger, all shares of Poseida not owned by Poseida, Roche or Roche’s wholly owned subsidiaries (other than shares as to which appraisal rights have been validly exercised under Delaware law) will be converted into the right to receive the same consideration per share, including the CVR, as was received for shares validly tendered in the tender offer. Following completion of the merger, Poseida will become a wholly owned subsidiary of Roche, and Poseida’s shares will cease to be traded on the Nasdaq Global Select Market.
About Poseida Therapeutics
Poseida Therapeutics is a clinical-stage biopharmaceutical company advancing differentiated allogeneic cell therapies and genetic medicines with the capacity to cure. Poseida’s pipeline includes investigational allogeneic CAR-T cell therapies for hematologic cancers, autoimmune diseases, and solid tumours, as well as investigational in vivo genetic medicines that address patient populations with high unmet medical need. Poseida’s approach is based on its proprietary genetic editing platforms, including its non-viral transposon-based DNA delivery system, Cas-CLOVER™ Site-Specific Gene Editing System Booster Molecule and nanoparticle gene delivery technologies, as well as in-house GMP cell therapy manufacturing.
About Roche
Founded in 1896 in Basel, Switzerland, as one of the first industrial manufacturers of branded medicines, Roche has grown into the world’s largest biotechnology company and the global leader in in-vitro diagnostics. The company pursues scientific excellence to discover and develop medicines and diagnostics for improving and saving the lives of people around the world. We are a pioneer in personalised healthcare and want to further transform how healthcare is delivered to have an even greater impact. To provide the best care for each person we partner with many stakeholders and combine our strengths in Diagnostics and Pharma with data insights from the clinical practice.
For over 125 years, sustainability has been an integral part of Roche’s business. As a science-driven company, our greatest contribution to society is developing innovative medicines and diagnostics that help people live healthier lives. Roche is committed to the Science Based Targets initiative and the Sustainable Markets Initiative to achieve net zero by 2045.
Genentech, in the United States, is a wholly owned member of the Roche Group. Roche is the majority shareholder in Chugai Pharmaceutical, Japan.
For more information, please visit www.roche.com.
All trademarks used or mentioned in this release are protected by law.
Cautionary Statement Regarding Forward-Looking Statements
This communication may include statements that are not statements of historical fact, or “forward-looking statements,” within the meaning of the federal securities laws. Any express or implied statements that do not relate to historical or current facts or matters are forward-looking statements. These statements are generally identified by words or phrases such as “believe”, “anticipate”, “expect”, “intend”, “plan”, “will”, “may”, “should”, “estimate”, “predict”, “project”, “strategy”, “potential”, “continue” or the negative of such terms or other similar expressions. Such statements include, but are not limited to, the expected effects and benefits of the transaction and statements about the expected timeline for completing the merger. These statements are based upon the current beliefs and expectations of Roche and Poseida’s management and are subject to significant risks and uncertainties. These risks and uncertainties include, but are not limited to, uncertainties as to the timing and consummation of the merger; the possibility that the milestone payments related to the CVR will never be achieved and that no milestone payment may be made; and the other risks and cautionary statements discussed or identified in Poseida’s public filings with the SEC, including the “Risk Factors” section of Poseida’s Annual Report on Form 10-K for the year ended December 31, 2023 and subsequent Quarterly Reports on Form 10-Q and Form 8-K, as well as the tender offer materials filed by Roche and its acquisition subsidiary and the Solicitation/Recommendation Statement filed by Poseida, in each case as amended by all subsequent filings made with the SEC. None of Roche, its acquisition subsidiary nor Poseida undertakes any obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise, except to the extent required by law.
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FAQ
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