m_and_a
confidence high
sentiment neutral
materiality 0.85
ESSA Pharma agrees to all-cash acquisition by XenoTherapeutics for ~$1.91/sh plus CVRs
ESSA Pharma Inc.
- Shareholders receive ~$1.91 per share cash (initial distribution + closing payment) plus CVRs up to $0.06 per share.
- Transaction backed by XOMA Royalty; implemented via BCBCA plan of arrangement requiring 66⅔% shareholder and court approval.
- Deal expected to close in H2 2025; includes $2.5M termination fee payable by ESSA under certain circumstances.
- Board and Transaction Committee unanimously recommend; officers/directors owning ~2.23% of shares support deal.
- ESSA plans to wind down operations; transaction provides expedited cash return vs. liquidation.
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