Latest terms of Sesen Bio and Carisma merger appear to pass muster

15 February 2023

Sesen Bio (Nasdaq: SESN) and Carisma Therapeutics have further changed their previously amended merger agreement following investor pushback.

The latest changes appear to satisfy a group of disgruntled shareholders, led by Bradley Radoff and Michael Torok, which together owns around 8.7% of the company.

This time the one-time special cash dividend expected to be paid to Sesen Bio stockholders has been increased to $75 million, a rise of $5 million on the amended amount and of $50 million on the original proposal.

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