AcelRx's bill for buying Tetraphase comes to $44.5 million
Californian company AcelRx Pharmaceuticals (Nasdaq: ACRX) has announced a revised merger agreement to acquire Tetraphase Pharmaceuticals (Nasdaq: TTPH).
The deal is for a revised consideration of $30 million in stock and cash based on the AcelRx closing share price on May 22, plus an additional $14.5 million in contingent value rights (CVRs) payable in cash.
"This is a solid first step in executing on our strategy of having multiple products in our portfolio to commercialize within healthcare institutions"The total consideration payable to Tetraphase stockholders and warrant holders includes AcelRx stock valued at $24.6 million, based upon the closing share price of AcelRx stock of $1.52 on May 22, 2020, plus $5.4 million in cash.
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