NGM Biopharmaceuticals Inc (NGM) has issued an update.
NGM Biopharmaceuticals, Inc. has entered into a Merger Agreement with Atlas Neon Parent, Inc. and its subsidiary, signaling a significant acquisition move in the biopharmaceutical sector. The deal entails a cash tender offer of $1.55 per share for the company’s common stock, a step towards the subsequent merger, with the company surviving as a wholly-owned subsidiary of Atlas Neon Parent. This strategic move is expected to delist NGM Biopharmaceuticals from the Nasdaq Stock Market and end its obligation to file periodic reports under the Exchange Act. The transaction is subject to customary closing conditions and the satisfaction of certain terms, but is not contingent on financing, indicating a strong commitment from the acquiring entity.
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