EQT to Acquire Iterum Therapeutics plc
Ticker: ITRM · Form: 8-K · Filed: Nov 21, 2024 · CIK: 1659323
| Field | Detail |
|---|---|
| Company | Iterum Therapeutics PLC (ITRM) |
| Form Type | 8-K |
| Filed Date | Nov 21, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.01 |
| Sentiment | neutral |
Sentiment: neutral
Topics: acquisition, merger, delisting
TL;DR
EQT is buying Iterum Therapeutics, expect delisting soon.
AI Summary
Iterum Therapeutics plc announced on November 20, 2024, that it has entered into a definitive agreement to be acquired by a subsidiary of EQT AB. The transaction is expected to close in the first quarter of 2025, subject to customary closing conditions. This acquisition will result in Iterum Therapeutics plc ceasing to be a publicly traded company.
Why It Matters
This acquisition by EQT AB will lead to Iterum Therapeutics plc being delisted from public exchanges, impacting its current shareholders and the future trading of its stock.
Risk Assessment
Risk Level: medium — The acquisition is subject to closing conditions, and there's always a risk of the deal falling through or delays in the closing process.
Key Players & Entities
- Iterum Therapeutics plc (company) — Company filing the report and being acquired
- EQT AB (company) — Acquiring company
- November 20, 2024 (date) — Date of the definitive agreement
- First quarter of 2025 (date) — Expected closing period for the acquisition
FAQ
What is the primary event reported in this 8-K filing?
The primary event reported is the definitive agreement for Iterum Therapeutics plc to be acquired by a subsidiary of EQT AB.
Who is acquiring Iterum Therapeutics plc?
A subsidiary of EQT AB is acquiring Iterum Therapeutics plc.
When is the acquisition expected to close?
The acquisition is expected to close in the first quarter of 2025.
What will happen to Iterum Therapeutics plc after the acquisition?
Iterum Therapeutics plc will cease to be a publicly traded company.
What are the conditions for the acquisition to close?
The acquisition is subject to customary closing conditions.
Filing Stats: 512 words · 2 min read · ~2 pages · Grade level 12.2 · Accepted 2024-11-21 09:15:44
Key Financial Figures
- $0.01 — registered Ordinary Shares, par value $0.01 per share ITRM The Nasdaq Stock Mar
Filing Documents
- itrm-20241120.htm (8-K) — 42KB
- itrm-ex99_1.htm (EX-99.1) — 18KB
- img185001215_0.jpg (GRAPHIC) — 8KB
- 0000950170-24-129507.txt ( ) — 191KB
- itrm-20241120.xsd (EX-101.SCH) — 26KB
- itrm-20241120_htm.xml (XML) — 5KB
01 Other Events
Item 8.01 Other Events. On November 20, 2024, Iterum Therapeutics plc (the "Company") received a letter form the Listing Qualifications Staff of The Nasdaq Stock Market LLC informing the Company that its deficiency under Listing Rule 5550(b) has been cured and that the Company is in compliance with applicable continued listing requirements. Based on the foregoing, the previously scheduled hearing before the Hearings Panel on November 21, 2024 has been cancelled. The Company will continue to be traded on The Nasdaq Capital Market . On November 21, 2024, the Company issued a press release announcing it had regained compliance with with applicable continued listing requirements. A copy of the press release is filed as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated by reference herein.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. Exhibit No. Description 99.1 Press Release of Iterum Therapeutics plc dated November 21, 2024 104 Cover Page Interactive Data File (formatted as Inline XBRL)
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Iterum Therapeutics plc Date: November 21, 2024 By: /s/ Corey N. Fishman Corey N. Fishman Chief Executive Officer