Landos Biopharma, Inc.: M&A transaction — AbbVie completes acquisition of Landos Biopharma for $20.42/share plus CVR up to $11.14

Landos Biopharma, Inc.

Aggregate closing cash consideration ~$137.5M; Landos shareholders receive $20.42 per share in cash plus one CVR per share.
CVR entitles holders to up to $11.14 in cash upon initiation of first Phase 3 trial of NX-13 for ulcerative colitis by March 31, 2029.
Landos' lead asset NX-13 is a first-in-class oral NLRX1 agonist in Phase 2 for moderate to severe UC (NEXUS study).
Landos' directors resigned and CEO/executive officers left; company becomes wholly owned subsidiary of AbbVie.
Landos common stock to be delisted from Nasdaq before market open on May 24, 2024.

item 2.01 item 3.01 item 3.03 item 5.01 item 5.02 item 5.03 item 8.01 item 9.01

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

Landos Biopharma, Inc. underwent a change of control involving AbbVie Inc. for $20.42 per share, plus one non-tradable contingent value right per share with a value of up to $11.14 per share (closed 2024-05-23).

Action: change of control
Counterparty: AbbVie Inc.
Consideration: $20.42 per share, plus one non-tradable contingent value right per share with a value of up to $11.14 per share
Closing: 2024-05-23

Exact text from the filing

AbbVie has acquired Landos at a price of $20.42 per share, plus one non-tradable contingent value right per share with a value of up to $11.14 per share

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Source: SEC EDGAR

accession 0001193125-24-146014

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