As per the terms of the agreement, Lilly will launch a tender offer to purchase all outstanding shares of Sigilon for a price of $14.92 per share in cash, equal to $34.6M (payable at closing), plus a non-tradable CVR per share that entitles holders to receive up to $126.56 per share in cash, equal to $309.6M
CVR holders would become entitled to receive (in cash) $4.06 per share upon first dosing of a specified product in the first human clinical trial, $26.39 per share for registration purposes & $81.19 per share upon receiving 1st regulatory approval
Following the completion of the transaction (expected by Q3’23), Lilly will acquire any existing shares of Sigilon through a second-step merger at the same consideration as paid in the tender offer
Ref: PR Newswire | Image: Eli Lilly
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