IVERIC Bio (ISEE) M&A Case

On April 30, 2023, Astellas Pharma Inc. (TSE: 4503) and IVERIC Bio, Inc. (NASDAQ: ISEE) announced that they entered into a definitive agreement under which Astellas through Berry Merger Sub, Inc., a wholly-owned subsidiary of Astellas US Holding, Inc., agreed to acquire 100% of the outstanding shares of Iveric Bio for US$40.00 per share in cash for a total equity value of approximately US$5.9 billion.

In the Acquisition, Iveric Bio will become an indirect wholly-owned subsidiary of Astellas.
The total equity value of Iveric Bio in the Acquisition assumes that there are approximately 148.2 million outstanding shares of Iveric Bio common stock on a fully diluted basis.
The Boards of Directors of both companies have unanimously approved the transaction.

Investors of $ISEE may have reasons to suspect that the pricing terms of the M&A transaction are unfair and that the Company BoD breached fiduciary duties to shareholders.

Case Status

Inactive Investigation

Alleged Offence

Misleading Statements,

Financial Misrepresentation,

Failure to Disclose,

Malpractice,

Breach of Fiduciary duty,

Omissions

Suspected Party

Directors,

Management,

Shareholder,

Investment Bank,

Service Provider

Security Type

Stocks

Trade Direction

Long

Shock Event Date

04/30/2023