Astellas to acquire IVERIC bio for $40/share in $5.9B all-cash deal

IVERIC bio, Inc.

Astellas to acquire IVERIC bio for $40.00 per share in cash, a 64% premium to unaffected close of $24.33 on March 31, 2023.
Total equity value approximately $5.9 billion based on ~148.2M fully diluted shares.
ACP (avacincaptad pegol) NDA for geographic atrophy has PDUFA goal date of August 19, 2023 with priority review.
Transaction expected to close in Q3 2023, subject to stockholder approval, HSR clearance, and other conditions.

Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

IVERIC bio, Inc.: Added a forum selection provision to the Amended and Restated Bylaws specifying exclusive forum for certain internal corporate claims (effective 2023-04-28).

Change: bylaw amendment
Effective: 2023-04-28

Exact text from the filing

On April 28, 2023, the Board approved an amendment to the Company’s existing Amended and Restated Bylaws (the “ Bylaws ”) to add a new Article V, Section 9 forum selection provision (the “ Forum Selection Amendment ”).

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Source: SEC EDGAR

accession 0001104659-23-053477

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