Harmony Biosciences Holdings, Inc. (HRMY): M&A transaction — Harmony Biosciences completes acquisition of Zynerba for $60M cash plus up to $140M in CVRs

Harmony Biosciences Holdings, Inc.

Purchase price of $1.1059 per share in cash (approx. $60M aggregate) plus one CVR per share worth up to $2.5444.
Tender offer received 52.3% of Zynerba shares; merger completed on Oct 10, 2023; Zynerba now wholly owned subsidiary.
Lead candidate Zygel is a synthetic cannabidiol gel in Phase 3 for Fragile X syndrome; also studied in 22q deletion syndrome.
Zygel granted FDA Fast Track for FXS and orphan designation in US and EU; potential to address ~160,000 US patients.
Zynerba common stock to be delisted from Nasdaq; Harmony diversifies pipeline beyond sleep/wake therapies.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

Harmony Biosciences Holdings, Inc. completed an acquisition involving Zynerba Pharmaceuticals, Inc. for $1.1059 per Share in cash plus one contingent value right per Share (closed 2023-10-10).

Action: acquisition
Counterparty: Zynerba Pharmaceuticals, Inc.
Consideration: $1.1059 per Share in cash plus one contingent value right per Share
Closing: 2023-10-10

Exact text from the filing

commenced a tender offer (the “Offer”) to acquire all of the outstanding shares of common stock of Zynerba , par value $0.001 per share (the “Shares”), at a price of (i) $ 1.1059 per Share (the “Closing Amount”), in cash, subject to any applicable withholding of taxes and without interest, plus (ii) one contingent value right (each, a “CVR”) per Share ,

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Harmony Biosciences Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001140361-23-047683

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