Revolution Medicines, Inc. (RVMD): M&A transaction — Revolution Medicines issues 54.8M shares for EQRx acquisition; pro forma shows $513M net loss

Revolution Medicines, Inc.

Acquisition closed Nov 8, 2023; issued 54.8M shares valued at ~$1.086B based on $20.02 RVMD price.
EQRx contributed $315.7M cash and $896.6M marketable securities; accounted as capital-raising with asset acquisition.
Pro forma combined cash & securities = $2.01B; net loss for 9M 2023: $513M; FY2022: $443M.
One-time transaction costs of $14M and severance of $11.8M recorded as equity reductions and accruals.
Pro forma EPS $(3.24) for 9M 2023 and $(3.27) for FY2022, on 158.5M and 135.4M weighted shares.

item 9.01 item 2.01

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

Revolution Medicines, Inc. completed an acquisition involving EQRx, Inc. (closed 2023-11-09).

Action: acquisition
Counterparty: EQRx, Inc.
Closing: 2023-11-09

Exact text from the filing

reporting under Item 2.01 the completion of its previously announced acquisition (the "Acquisition") of EQRx, Inc.

View on SEC.gov

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Revolution Medicines, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-23-302252

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