TherapeuticsMD plunges 42% as merger agreement ends

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• The shares of TherapeuticsMD (NASDAQ:TXMD) dropped ~42% in the pre-market Wednesday after the women’s healthcare company announced the termination of its merger agreement with Athene Merger, an affiliate of the private equity firm EW Healthcare Partners.
• The termination of the deal comes after Athene failed to acquire the required number of TXMD shares during an extended period of tender offer that ended on July 12. The end of the merger agreement is expected to take effect from July 13.
• Announcing the extension of the tender offer, EW Healthcare said last week that TherapeuticsMD (TXMD) risks bankruptcy without the closure of the merger deal.
• As of July 05, more than 2.5M TXMD shares or about ~29% of the company’s issued and outstanding shares, had been tendered.

Comments

[Jeff B ME]

And now that 10 days have past, plus a few more days, then now through the weekend... Tomorrow Monday August 1st maybeeeeeeeeeeeeeeeee...?

[Jeff B ME]

TXMD just announced that Sixth Street (their financier) has given them a 10 day extension costing TXMD 1.2 M in fees... so another 10 days of waiting and hoping...

[Jeff B ME]

As per their filing update posted earlier this AM they only increased to 30.6% after trying for an additional week to convince shareholders that their worthless tender offer was the way to go... Yes we holdouts are hoping for a miracle now and may lose everything, but we already had lost 95% of everything so why not throw the "Hail Mary" pass on the remaining 5%...

[joezapp]

@Jeff B ME You keep going back to this. That 95% is gone. Get over it. The remaining cash, which is now dwindling, you preferred to put on a long shot coming off an injury. Long-term, you and your peers will do well investing this way.