The Fly

Applied Genetic reminds shareholders to tender their shares

Applied Genetic Technologies President and CEO Sue Washer, reminds AGTC stockholders: "A Syncona Limited portfolio company has commenced a tender offer to purchase all outstanding shares of AGTC common stock at a price per share of $0.34 in cash plus the right for AGTC stockholders to receive additional aggregate payments of up to $0.73 per share upon the achievement of specified milestones. AGTC’s Board of Directors has unanimously approved the transaction and recommends that stockholders accept the offer and tender their shares in the offer. AGTC’s Board of Directors believes the transaction represents an attractive offer that is in the best interests of AGTC’s stockholders. Should the majority of outstanding AGTC shares not be tendered, AGTC’s Board of Directors believes that AGTC will have no alternative but to pursue bankruptcy with no certainty of value for stockholders. It is therefore important that you tender your shares in the offer."

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