23d (edited) • General discussion
Tender Offer ADVM acquisition by LILY
Adverium (ADVM) to be acquired by Lilly. $3.56/share + 1 CVR per share entitling holders to an additional $8.91/share under the following conditions:
if and when the following milestones are achieved:
• Up to $1.78 per CVR in cash payable upon U.S. approval of Ixo-vec prior to the seventh anniversary of closing.
• Up to $7.13 per CVR in cash payable upon the first achievement of annual worldwide net sales of Ixo-vec by Lilly, its affiliates or licensees exceeding $1.0 billion dollars prior to the tenth anniversary of closing.
Recent price per share is $4.26/share. With the payout of 3.56 per share upon acquisition completion prospective participants can risk $0.80 cents per share with a possible payout of $8.91/share over the next ten years. 10:1 risk reward ratio. Announcement below:
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Tender Offer ADVM acquisition by LILY
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