MergerSep 23, 2026, 04:33 PM
Theravance Biopharma Merges with Zymeworks; Shareholders to Receive $17 Cash + CVRs
AI Summary
Theravance Biopharma, Inc. announced the completion of its merger with Zymeworks Inc. Each ordinary share was converted into $17.00 in cash and a contingent value right (CVR). Company options and equity awards were also converted into cash and CVRs. The company has requested Nasdaq to suspend trading and initiate the delisting process. The CVRs represent the right to receive potential future payments based on licensing and commercialization of CVR Products, specifically ampreloxetine.
Key Highlights
- Theravance Biopharma Ordinary Shares converted to $17.00 cash plus one contingent value right (CVR) per share.
- Company Options, RSUs, and PSUs also converted to cash and CVRs.
- Trading of Ordinary Shares suspended on Nasdaq; delisting process initiated.
- Contingent Value Rights Agreement details potential payments from CVR Product Licenses and milestones.
- CVR holders may receive payments based on Net License Proceeds (80%) and Royalties (10% of Net Sales).
Price Impact
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