April 5, 2017 / 4:53 AM / 7 months ago

BRIEF-Gurnet Point to acquire Innocoll Holdings for $209 mln

April 5 (Reuters) - Innocoll Holdings Plc

* Gurnet Point L.P. enters into agreement to acquire Innocoll Holdings Plc

* Gurnet Point will acquire innocoll for $1.75 per share in cash, and up to $4.90 in cash from a contingent value

* Innocoll - Gurnet Point to buy co for $1.75/share in cash, & up to $4.90 in cash from CVR, for a total potential up to about $209 million in aggregate

* Says potential license for Xaracoll in United States was also investigated, but no suitable partner has been found

* Says noted its board had explored a sale of company, to achieve its goal of bringing Xaracoll to market

* Says “go-it-alone” option was dismissed due to potential for significant shareholder dilution and execution risk

* Innocoll - During offer period, Gurnet Point plans to provide term loan of $10 million to give co additional resources needed for continued development of Xaracoll within post-operative pain market

* Says under terms of acquisition, each CVR represents right to receive a specified amount of cash payments Source text for Eikon: Further company coverage: (Bengaluru Newsroom)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below