secwatch.observer — SEC 8-K summary
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Issuer:     Innoviva, Inc. (INVA)
CIK:        0001080014
Form:       8-K
Filed at:   2022-05-24T23:59:59+00:00
Accession:  0001140361-22-020321
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Innoviva to acquire Entasis Therapeutics for $2.20/share cash tender offer
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- Offer price of $2.20 per share; all-cash transaction valued at implied equity value of ~$80M (based on 36.4M shares outstanding).
- Merger agreement unanimously approved by boards of Innoviva, Merger Sub, and Entasis.
- Support agreements with TPG GP A, LLC and independent directors covering ~2.32% of shares; they will tender in the offer.
- Tender condition requires at least one more than 50% of shares not owned by Innoviva or Entasis CEO; no financing contingency disclosed.
- Entasis options and RSUs will be converted into cash or Innoviva stock; warrants replaced with Innoviva warrants.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1080014/000114036122020321/0001140361-22-020321-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1080014/000114036122020321/ny20004305x1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-22-020321

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