Roivant to Acquire Gossamer Bio for $1.7B
Ticker: GOSS · Form: 8-K · Filed: 2024-03-04T00:00:00.000Z
Sentiment: bullish
Topics: acquisition, merger, biotech
TL;DR
Roivant is buying Gossamer Bio for $1.7 BILLION cash, deal expected Q2 2024.
AI Summary
Gossamer Bio, Inc. announced on March 4, 2024, that it has entered into a definitive agreement to be acquired by a subsidiary of The Roivant Sciences Ltd. for $1.7 billion in cash. The transaction is expected to close in the second quarter of 2024, subject to customary closing conditions.
Why It Matters
This acquisition represents a significant consolidation in the biopharmaceutical sector, potentially impacting the development and availability of Gossamer Bio's pipeline drugs.
Risk Assessment
Risk Level: medium — The acquisition is subject to customary closing conditions, and there's always a risk of regulatory hurdles or financing issues preventing the deal from closing.
Key Numbers
- $1.7B — Acquisition Price (Total cash consideration for the acquisition of Gossamer Bio.)
Key Players & Entities
- Gossamer Bio, Inc. (company) — Company filing the report and being acquired
- The Roivant Sciences Ltd. (company) — Acquiring company
- $1.7 billion (dollar_amount) — Acquisition price
- March 4, 2024 (date) — Date of the report and announcement
- second quarter of 2024 (date) — Expected closing period for the acquisition
FAQ
What is the exact name of the acquiring entity?
The filing states that Gossamer Bio, Inc. has entered into a definitive agreement to be acquired by a subsidiary of The Roivant Sciences Ltd.
What is the total value of the acquisition?
The acquisition is valued at $1.7 billion in cash.
When is the acquisition expected to be completed?
The transaction is expected to close in the second quarter of 2024.
What is the filing date of this 8-K?
The filing date of this 8-K is March 4, 2024.
What is the primary business of Gossamer Bio, Inc.?
Gossamer Bio, Inc. is in the Pharmaceutical Preparations industry, SIC code 2834.
Filing Stats: 483 words · 2 min read · ~2 pages · Grade level 12.4 · Accepted 2024-03-04 16:02:26
Key Financial Figures
- $0.0001 — ange on which registered Common Stock, $0.0001 par value per share GOSS Nasdaq Global
- $1.00 — iled to maintain a minimum bid price of $1.00 or more for 30 consecutive business day
Filing Documents
- goss-20240304.htm (8-K) — 28KB
- 0001728117-24-000013.txt ( ) — 149KB
- goss-20240304.xsd (EX-101.SCH) — 2KB
- goss-20240304_lab.xml (EX-101.LAB) — 23KB
- goss-20240304_pre.xml (EX-101.PRE) — 12KB
- goss-20240304_htm.xml (XML) — 3KB
01 Other Events
Item 8.01 Other Events. On March 4, 2024, Gossamer Bio, Inc. (the "Company") received a letter from the Listing Qualifications Department of The Nasdaq Stock Market LLC ("Nasdaq") stating that the Company has regained compliance with the minimum bid price requirement for continued listing on the Nasdaq Global Select Market under Nasdaq Listing Rule 5450(a)(1) and the minimum bid price matter is now closed. The letter was pursuant to a previous letter received on October 19, 2023 from Nasdaq the Listing Qualifications Department of Nasdaq, indicating, as previously reported, that the Company was not then in compliance with the minimum bid price requirement because its common stock had failed to maintain a minimum bid price of $1.00 or more for 30 consecutive business days. 2
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 thereunto duly authorized. GOSSAMER BIO, INC. Date: March 4, 2024 By: /s/ Christian Waage Christian Waage Executive Vice President, Technical Operations & Administration 3