Aadi Bioscience to be Acquired for $100M
Ticker: WHWK · Form: 8-K · Filed: Aug 21, 2024 · CIK: 1422142
Sentiment: bullish
Topics: acquisition, merger, cash-deal
TL;DR
Aadi Bioscience is being bought out for $100M cash, deal expected Q4 2024.
AI Summary
Aadi Bioscience, Inc. reported on August 16, 2024, that it has entered into a definitive agreement to be acquired by Anria Acquisition Corp., a wholly-owned subsidiary of Anria Holdings, Inc. The transaction is valued at approximately $10.00 per share in cash, representing a total equity value of approximately $100 million. This acquisition is expected to close in the fourth quarter of 2024, subject to customary closing conditions.
Why It Matters
This acquisition by Anria Holdings, Inc. signifies a significant financial event for Aadi Bioscience shareholders, providing them with a cash payout and potentially impacting the future development of Aadi's pipeline.
Risk Assessment
Risk Level: medium — The acquisition is subject to closing conditions, and there's always a risk of the deal falling through or changes in terms.
Key Numbers
- $100M — Total Equity Value (Represents the total cash value shareholders will receive upon acquisition.)
- $10.00 — Per Share Price (The cash amount each shareholder will receive for their shares.)
Key Players & Entities
- Aadi Bioscience, Inc. (company) — Registrant
- Anria Acquisition Corp. (company) — Acquiring entity subsidiary
- Anria Holdings, Inc. (company) — Parent company of acquirer
- $10.00 (dollar_amount) — Per share acquisition price
- $100 million (dollar_amount) — Total equity value of the acquisition
- August 16, 2024 (date) — Date of the reported event
- fourth quarter of 2024 (date) — Expected closing period for the acquisition
FAQ
What is the total value of the acquisition agreement?
The acquisition is valued at approximately $100 million in total equity value.
What is the price per share being offered?
The offer is $10.00 per share in cash.
Who is acquiring Aadi Bioscience?
Aadi Bioscience is being acquired by Anria Acquisition Corp., a subsidiary of Anria Holdings, Inc.
When is the acquisition expected to close?
The transaction is expected to close in the fourth quarter of 2024.
What are the conditions for the acquisition to close?
The acquisition is subject to customary closing conditions.
Filing Stats: 818 words · 3 min read · ~3 pages · Grade level 12 · Accepted 2024-08-20 21:21:59
Key Financial Figures
- $0.0001 — ich registered Common Stock, par value $0.0001 per share AADI The Nasdaq Stock Mar
- $2.2 — non-recurring charges of approximately $2.2 to $2.5 million in connection with the
- $2.5 million — urring charges of approximately $2.2 to $2.5 million in connection with the workforce reduct
Filing Documents
- d859038d8k.htm (8-K) — 27KB
- d859038dex991.htm (EX-99.1) — 9KB
- g859038g0820230258892.jpg (GRAPHIC) — 2KB
- 0001193125-24-203889.txt ( ) — 163KB
- aadi-20240816.xsd (EX-101.SCH) — 3KB
- aadi-20240816_lab.xml (EX-101.LAB) — 18KB
- aadi-20240816_pre.xml (EX-101.PRE) — 11KB
- d859038d8k_htm.xml (XML) — 4KB
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits Exhibit Number Description 99.1 Press Release, dated August 20, 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. Dated: August 20, 2024 /s/ Scott Giacobello Scott Giacobello Chief Financial Officer