Evolva completes Allylix acquisition
Evolva will acquire Allylix in return for an overall consideration of 46 million newly-issued Evolva shares (c. 14.1% of Evolva post transaction). Part of these shares, currently estimated at approx. 6 million shares, will be sold over a period of time after closing, to offset certain liabilities and transaction expenses of Allylix. Shares allocated to the Allylix security holders will be subject to a staggered lock-up, such that the shares will be released in twelve tranches of approx. 3 million shares each, during the first year after the closing of the transaction.
Most read news
Other news from the department business & finance
Get the life science industry in your inbox
From now on, don't miss a thing: Our newsletter for biotechnology, pharma and life sciences brings you up to date every Tuesday and Thursday. The latest industry news, product highlights and innovations - compact and easy to understand in your inbox. Researched by us so you don't have to.