Pathos AI makes successful takeover bid for Rain Oncology
14 Dec 2023
Acquisition
Pathos AI is acquiring Rain Oncology for $1.16 in cash per share plus a non-tradable contingent value right for potential cash payments of up to $0.17 per share, just a few months after investment group Tang Capital Management’s takeover bid failed.
Rain will operate as a subsidiary of Pathos, with the acquisition expected to close in January, though the offer depends on several conditions, including the availability of at least $49.6 million in cash and cash equivalents.
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Source: EndPoints
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