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Atea Pharmaceuticals jumps on $5.75 a share takeover offer from Tang Capital

May 22, 2023 9:27 AM ETAtea Pharmaceuticals, Inc. (AVIR)By: Joshua Fineman, SA News Editor7 Comments
Business mergers and acquisitions concept. Share acquisition, asset business acquisition, amalgamation. Business review and development model. The abbreviation M and A on smart background, copy space.

Parradee Kietsirikul

  • Atea Pharmaceuticals (NASDAQ:AVIR) soared 24% in premarket trading after Tang Capital affiliate Concentra Biosciences offered to buy Atea for $5.75 a share in cash.
  • The offer also includes a contingent value right representing the right to receive 80% of the net proceeds payable

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Comments (7)

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Queen Anne Investor profile picture
Good deal for Tang but may also be good way for shareholders to exit. Time is the enemy of a bad business. Value drops with time
NDHT profile picture
Based on a quick calculation on an envelope, Tang's offer is at a market cap of around $478 million.

So, Mr. Tang is saying, "I give you $478 million today, you give me all of your stuff; and at the closing, hand me over $570 million in cash."

This sounds like a scene in one of the Wild West movies. :-)
They should take a stake in $AUPH too
Just say NO! 👎
Deal sucks
Will QNCX be Tang’s next buyout target ? He owns 10% and it trades significantly below cash.
liegh aulper profile picture
way to cheap. more like a steal, rather than a deal

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