Cardiome Pharma

Tender Price: 
$4.25
Tender max: 
$5.1
Ticker: 
CRME
Last Trade: 
$4.23
Potential Gain: 
0.47%
Potential Gain Max: 
20.57%
Tender amount: 
Up to $27.5 million of common shares
Expires: 
Oct 13 2009 - 17:00
Financing: 
cash on hand
Phase: 
Completed

Notes

Originally posted in the forum under the Cardiome Odd Lot NASDAQ: CRME thread.

Odd-lot provision: "If you beneficially own less than 100 common shares at the close of business on the Expiration Date and you deposit or are deemed to deposit all of your common shares to the Offer at or below the Purchase Price, we will accept all of your common shares for purchase without pro-ration (but otherwise subject to the terms and conditions of the Offer)."

Source of funds: "We will fund any purchases of common shares under the Offer from available cash on hand. Assuming the Offer is fully subscribed, the aggregate purchase price will be US$27.5 million."

Final results: Cardiome has accepted 6,470,588 of its common shares for purchase and cancellation at a purchase price of US$4.25 per share , for an aggregate purchase price of US$27.5 million. Based on the final report of the Depository, 7,209,211 common shares were properly tendered to the Offer at or below the Purchase Price. Subject to certain limited exceptions described in the offer to purchase and issuer bid circular for the Offer filed with securities regulatory authorities in Canada and the United States on September 1, 2009, shareholders who tendered their common shares to the Offer at a price equal to or less than the Purchase Price will have approximately 90% of their deposited common shares purchased by the Company.

Breaking News: 
Loading...