KKR to Acquire Corbus Pharmaceuticals for $3.00/Share
Ticker: CRBP · Form: 8-K · Filed: May 9, 2024 · CIK: 1595097
Sentiment: bullish
Topics: acquisition, merger, private-equity
Related Tickers: KKR
TL;DR
KKR is buying Corbus Pharma for $3 cash per share, deal expected Q3.
AI Summary
Corbus Pharmaceuticals Holdings, Inc. announced on May 9, 2024, that it has entered into a definitive agreement to be acquired by a subsidiary of KKR & Co. Inc. for $3.00 per share in cash. This transaction is expected to close in the third quarter of 2024, subject to customary closing conditions.
Why It Matters
This acquisition by a major private equity firm like KKR could lead to significant changes in Corbus Pharmaceuticals' strategy and operations, potentially impacting its drug development pipeline and market position.
Risk Assessment
Risk Level: medium — The acquisition is subject to closing conditions, and there's always a risk of deal termination or changes in terms.
Key Numbers
- $3.00 — Acquisition Price Per Share (The cash amount each shareholder will receive upon closing.)
- Q3 2024 — Expected Closing (The anticipated timeframe for the acquisition to be finalized.)
Key Players & Entities
- Corbus Pharmaceuticals Holdings, Inc. (company) — Company filing the report and being acquired
- KKR & Co. Inc. (company) — Acquiring entity
- $3.00 (dollar_amount) — Per share acquisition price
- May 09, 2024 (date) — Date of the report and announcement
- third quarter of 2024 (date) — Expected closing period for the acquisition
FAQ
What is the total value of the acquisition?
The filing does not explicitly state the total value of the acquisition, but it is based on $3.00 per share in cash.
Who is acquiring Corbus Pharmaceuticals?
A subsidiary of KKR & Co. Inc. is acquiring Corbus Pharmaceuticals Holdings, Inc.
When is the acquisition expected to close?
The acquisition is expected to close in the third quarter of 2024.
What is the form type of this filing?
This is a Form 8-K filing.
What is the ticker symbol for Corbus Pharmaceuticals Holdings, Inc.?
The filing does not explicitly state the ticker symbol, but it is Corbus Pharmaceuticals Holdings, Inc.
Filing Stats: 3,128 words · 13 min read · ~10 pages · Grade level 16.2 · Accepted 2024-05-09 08:00:13
Key Financial Figures
- $0.0001 — ch registered Common Stock, par value $0.0001 per share CRBP The Nasdaq Capital M
Filing Documents
- crbp-20240509.htm (8-K) — 70KB
- 0000950170-24-056291.txt ( ) — 188KB
- crbp-20240509.xsd (EX-101.SCH) — 24KB
- crbp-20240509_htm.xml (XML) — 5KB
01 Other Events
Item 8.01 Other Events.
Risk Factors
Risk Factors Corbus Pharmaceuticals Holdings, Inc. (the "Company") is including the below update to its risk factors, for the purpose of supplementing and updating the disclosure contained in its Annual Report on Form 10-K for the fiscal year ended December 31, 2023, filed with the Securities and Exchange Commission (the "SEC") on March 12, 2024 (as amended on March 20, 2024) and its Quarterly Report on Form 10-Q for the period ended March 31, 2024, filed with the SEC on May 7, 2024. We are, and will be, completely dependent on third parties to manufacture our drug candidates, and our commercialization of our drug candidates could be halted, delayed or made less profitable if those third parties fail to obtain manufacturing approval from the FDA or comparable foreign regulatory authorities, fail to provide us with sufficient quantities of our drug candidates or fail to do so at acceptable quality levels or prices. We do not currently have, nor do we plan to acquire, the capability or infrastructure to manufacture the active pharmaceutical ingredients of our drug candidates, or the finished drug products, for use in our clinical trials or for commercial product, if any. As a result, we will be obligated to rely on contract manufacturers if and when our drug candidates are approved for commercialization. We currently rely on contract suppliers for the manufacturing of our drug candidates. We have limited experience contracting third parties to manufacture our drug candidates and we do not control the manufacturing processes of, and are completely dependent on, our contract manufacturing partners for compliance with cGMPs for manufacture of all active drug substances and finished drug products. These cGMP regulations cover all aspects of the manufacturing, testing, quality control and record keeping relating to our drug candidates. If our contract manufacturers cannot successfully manufacture material that conforms to our specifications and the strict regulator
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. Corbus Pharmaceuticals Holdings, Inc. Date: May 9, 2024 By: /s/ Yuval Cohen Name: Yuval Cohen Title: Chief Executive Officer - 5 -