The financial advisor of UCB are Lazard and Barclays, and Covington & Burling LLP is its legal advisor for the transaction. Additionally, Latham & Watkins LLP is the legal advisor of the company for the transaction. Moreover, ZGNX’s financial advisors for the transaction are BofA Securities and SVB Leerink. The expected closing of the transaction is by the end of the second quarter of 2022, which is subject to certain specific conditions.The value of the total transaction is approximately US$1.9 billion or 1.7 billion euros.The contingent value right (CVR) for a potential cash payment of US$2.00 is dependent on EU approval of FINTEPLA® as orphan medicine for LGS (Lennox-Gastaut syndrome) treatment on or before December 2023.
#Stocks expected to skyrocket 2021 plus
The per-share price for the purchase will be US$26.00 in cash at closing plus one non-tradable CVR.UCB will initiate a tender offer for buying all outstanding shares of the company through its wholly-owned subsidiary, Zinc Merger Sub, Inc.Furthermore, both the companies’ respective boards of directors unanimously approved the transaction. ZGNX and UCB AgreementĪs per the definitive agreement between UCB and ZGNX, UCB will acquire the company. Additionally, the ZGNX stock stands at a year-to-date loss of 3.75% while it lost 14.35% last year. Currently, the company has 55.99 million shares outstanding in the market. has a market capitalization of $891.95 million. Following the announcement, the stock was trading at $24.54 at the time of writing in the premarket session.įounded in 2006, the pharmaceutical company, Zogenix, Inc. Consequently, shares of the company skyrocketed by 56.91% premarket, at the last check on Wednesday.ĭuring the previous regular session, ZGNX declined by 1.82% at its close of $15.64, on Tuesday. (ZGNX) along with UCB announced entering into a definitive agreement for the acquisition of ZGNX.
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