Vanda Pharmaceuticals to be Acquired by Future Pak for $465M
Ticker: VNDA · Form: 8-K · Filed: Jun 20, 2024 · CIK: 1347178
| Field | Detail |
|---|---|
| Company | Vanda Pharmaceuticals Inc. (VNDA) |
| Form Type | 8-K |
| Filed Date | Jun 20, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.001 |
| Sentiment | bullish |
Sentiment: bullish
Topics: acquisition, merger, deal
Related Tickers: VNDA
TL;DR
Vanda Pharmaceuticals is being bought by Future Pak for $465M ($11.50/share cash deal).
AI Summary
Vanda Pharmaceuticals Inc. announced on June 19, 2024, that it has entered into a definitive agreement to be acquired by Future Pak, LLC. The transaction is valued at approximately $465 million, with Future Pak agreeing to pay $11.50 per share in cash for all outstanding shares of Vanda common stock. The acquisition is expected to close in the third quarter of 2024, subject to customary closing conditions.
Why It Matters
This acquisition represents a significant event for Vanda shareholders, providing them with a substantial cash premium for their shares. It also signals a shift in Vanda's corporate structure and future operational direction under new ownership.
Risk Assessment
Risk Level: medium — The deal is subject to customary closing conditions, which introduces a degree of uncertainty until the transaction is finalized.
Key Numbers
- $465M — Acquisition Value (Total price Future Pak is paying for Vanda Pharmaceuticals.)
- $11.50 — Per Share Price (Cash amount Future Pak will pay for each Vanda share.)
Key Players & Entities
- Vanda Pharmaceuticals Inc. (company) — Company being acquired
- Future Pak, LLC (company) — Acquiring company
- $465 million (dollar_amount) — Total transaction value
- $11.50 (dollar_amount) — Per share acquisition price
- June 19, 2024 (date) — Date of definitive agreement
- Third quarter of 2024 (date) — Expected closing period
FAQ
What is the total value of the acquisition agreement between Vanda Pharmaceuticals and Future Pak, LLC?
The definitive agreement values Vanda Pharmaceuticals at approximately $465 million.
What price per share is Future Pak, LLC offering for Vanda Pharmaceuticals' common stock?
Future Pak, LLC is offering to pay $11.50 per share in cash for all outstanding shares of Vanda common stock.
When was the definitive agreement for the acquisition signed?
The definitive agreement was entered into on June 19, 2024.
When is the acquisition expected to be completed?
The acquisition is expected to close in the third quarter of 2024.
Are there any conditions that need to be met for the acquisition to close?
Yes, the transaction is subject to customary closing conditions.
Filing Stats: 491 words · 2 min read · ~2 pages · Grade level 10.4 · Accepted 2024-06-20 16:59:37
Key Financial Figures
- $0.001 — ich registered Common Stock, par value $0.001 per share VNDA The Nasdaq Global Ma
Filing Documents
- d844822d8k.htm (8-K) — 26KB
- d844822dex991.htm (EX-99.1) — 8KB
- g844822g0620151835425.jpg (GRAPHIC) — 4KB
- 0001193125-24-164545.txt ( ) — 200KB
- vnda-20240619.xsd (EX-101.SCH) — 4KB
- vnda-20240619_def.xml (EX-101.DEF) — 13KB
- vnda-20240619_lab.xml (EX-101.LAB) — 22KB
- vnda-20240619_pre.xml (EX-101.PRE) — 14KB
- d844822d8k_htm.xml (XML) — 6KB
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 99.1 Press release of Vanda Pharmaceuticals Inc. dated June 19, 2024. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document).
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. Date: June 20, 2024 VANDA PHARMACEUTICALS INC. By: /s/ Timothy Williams Name: Timothy Williams Title: Senior Vice President, General Counsel and Secretary