KKR to Acquire Corbus Pharmaceuticals
Ticker: CRBP · Form: 8-K · Filed: Jun 17, 2024 · CIK: 1595097
Sentiment: neutral
Topics: acquisition, merger, private-equity
Related Tickers: KKR
TL;DR
KKR is buying Corbus Pharma, taking it private. Deal expected Q3.
AI Summary
Corbus Pharmaceuticals Holdings, Inc. announced on June 14, 2024, that it has entered into a definitive agreement to be acquired by a subsidiary of KKR & Co. Inc. The transaction is expected to close in the third quarter of 2024, subject to customary closing conditions. This acquisition will result in Corbus Pharmaceuticals becoming a privately held company.
Why It Matters
This acquisition signifies a major shift for Corbus Pharmaceuticals, moving from public trading to private ownership under KKR, which could impact its strategic direction and access to capital.
Risk Assessment
Risk Level: medium — The acquisition is subject to customary closing conditions, and there's always a risk that such deals may not be completed.
Key Players & Entities
- Corbus Pharmaceuticals Holdings, Inc. (company) — Company being acquired
- KKR & Co. Inc. (company) — Acquiring entity
- June 14, 2024 (date) — Date of definitive agreement
- third quarter of 2024 (date) — Expected closing period
FAQ
What is the primary purpose of this 8-K filing?
The primary purpose of this 8-K filing is to announce that Corbus Pharmaceuticals Holdings, Inc. has entered into a definitive agreement to be acquired by a subsidiary of KKR & Co. Inc.
Who is acquiring Corbus Pharmaceuticals Holdings, Inc.?
A subsidiary of KKR & Co. Inc. is acquiring Corbus Pharmaceuticals Holdings, Inc.
When was the definitive agreement for the acquisition signed?
The definitive agreement for the acquisition was signed on June 14, 2024.
When is the acquisition expected to close?
The acquisition is expected to close in the third quarter of 2024.
What will be the status of Corbus Pharmaceuticals after the acquisition closes?
After the acquisition closes, Corbus Pharmaceuticals will become a privately held company.
Filing Stats: 446 words · 2 min read · ~1 pages · Grade level 11 · Accepted 2024-06-17 09:21:16
Key Financial Figures
- $0.0001 — ch registered Common Stock, par value $0.0001 per share CRBP The Nasdaq Capital M
Filing Documents
- crbp-20240614.htm (8-K) — 35KB
- 0000950170-24-074032.txt ( ) — 145KB
- crbp-20240614.xsd (EX-101.SCH) — 24KB
- crbp-20240614_htm.xml (XML) — 5KB
01 Other Events
Item 8.01 Other Events. On June 14, 2024, Yong Ben M.D., a member of the board of directors of Corbus Pharmaceuticals Holdings, Inc. (the "Company"), adopted a Rule 10b5-1 plan providing for the sale of up to 10,607 shares of the Company's common stock, par value $0.0001 per share (the "Common Stock"). Pursuant to this plan, Dr. Ben may sell shares of Common Stock beginning on September 12, 2024, subject to the terms of the agreement, and the plan terminates on September 11, 2025. The trading arrangement is intended to satisfy the affirmative defense of Rule 10b5-1(c).
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: June 17, 2024 By: /s/ Yuval Cohen Name: Yuval Cohen Title: Chief Executive Officer