Innoviva completes acquisition of La Jolla Pharmaceutical for $6.23 per share

Innoviva, Inc.

Tender offer accepted 21,703,224 shares (~87.03% of outstanding) at $6.23 per share, no interest.
Merger completed on August 22, 2022, with La Jolla surviving as wholly-owned subsidiary.
All outstanding shares (other than Innoviva-Owned and La Jolla-Owned) converted to $6.23 cash per share.
Series C-1 Preferred Shares converted to cash equal to 1,724.04 times the Merger Consideration.
Options with exercise price below $6.23 received cash for spread; options at or above $6.23 cancelled for no consideration.

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