Incyte commences $1.672B Dutch auction tender offer, agrees to buy $328M from Baker Entities

INCYTE CORP

Incyte commences modified Dutch auction tender offer to repurchase up to $1.672 billion of common stock at $52-$60 per share.
Incyte enters stock purchase agreement with Baker Entities (own ~16.4% of shares) to buy up to $328 million at same price to maintain their ownership.
Total repurchase up to $2.0 billion, representing ~14.8%-17.1% of outstanding shares as of May 9, 2024.
Tender offer expires June 10, 2024; Baker Entities purchase expected 11 business days after offer completion.
Baker Entities include Julian C. Baker (board member) and entities advised by Baker Bros. Advisors LP.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

INCYTE CORP entered into Purchase Agreement with Baker Entities (including Julian C. Baker, Felix J. Baker, and affiliates) valued at approximately $328.0 million (effective 2024-05-12).

Action: entry
Agreement: equity purchase
Counterparty: Baker Entities (including Julian C. Baker, Felix J. Baker, and affiliates)
Value: approximately $328.0 million
Effective: 2024-05-12

Exact text from the filing

On May 12, 2024, Incyte Corporation (the “Company”) entered into a stock purchase agreement (the “Purchase Agreement”) with Julian C. Baker, a member of the Company’s board of directors, Felix J. Baker, and entities affiliated with Julian C. and Felix J. Baker, including funds advised by Baker Bros. Advisors LP (collectively, the “Baker Entities”).

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336 material agreements filed in the last 30 days. Browse all material agreements →

INCYTE CORP filing history →

Source: SEC EDGAR

accession 0001104659-24-060207

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