Lisata Therapeutics plunges after Kuva Labs terminates takeover

Corporate Action
โดย Seeking Alpha·Read original
Summary · why it matters

Lisata Therapeutics sank 16% after its planned sale to Kuva Labs was terminated. The termination occurred because Kuva Labs was unable to obtain sufficient financing to fund its takeover offer, according to an 8-K filing on Friday. As a result, Kuva is obligated to pay Lisata a termination fee of $2 million under the merger agreement. Lisata had announced in January that it entered into a binding term sheet with privately held Kuva Labs for an acquisition through a tender offer priced at $4.00 per share in cash.

Impact on stocks 1

Biotech & Genomic Medicine▼ · 1 stocks
Lisata Therapeutics Inc.
LSTA
▼ NegativeCapitalrelevance

Planned acquisition by Kuva Labs terminated due to financing failure, causing stock to plunge.

Off-coverage companies 1

Kuva LabsPrivate▼ Negative
Capitalrelevance

Kuva Labs unable to obtain financing for the takeover, obligated to pay $2M termination fee.

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