Key Updates for LAVA Therapeutics Shareholders
Today, LAVA Therapeutics N.V. (“LAVA”) (NASDAQ: LVTX) encourages its shareholders to take necessary actions regarding their shares related to the ongoing transaction with XOMA Royalty Corporation (“XOMA”). The importance of this communication cannot be overstated, as the deadline approaches for tendering shares in this strategic deal.
Understanding the Transaction with XOMA
LAVA and XOMA have been in talks as part of a share purchase agreement, which was previously outlined on August 4. Recently, on October 17, the offer to purchase outstanding common shares of LAVA was extended. This offer will remain valid until one minute after 11:59 p.m. on November 12. Ensuring your participation in this transaction is vital before the aforementioned expiration time.
Why is Tendering Your Shares Important?
LAVA strongly reminds all shareholders of the urgency to tender shares before the expiration deadline. A successful completion of the offer requires at least a certain percentage of shares to be tendered. If this threshold is not met, the possibility of completing the transaction diminishes, which could lead to adverse consequences for LAVA and its investors.
Potential Risks of Not Participating
If the tendering of shares fails to reach adequate levels, shareholders will face significant risks. Firstly, the Board may decide that liquidation becomes the only viable option, jeopardizing shareholder value. The estimated liquidation proceeds for shareholders in such a scenario could be considerably less than the cash consideration presently offered. Delays in distributions could further complicate matters with respect to timing and amount due to external regulatory and creditor obligations.
Secondly, if the offer is not successfully consummated, there’s a chance of declining share prices. Investors may find the trading price of LAVA shares reflecting lower values, diverging from expectations set by the current offer.
Instructions for Tendering Shares
Shareholders who hold their common shares via a broker or financial institution are advised to contact them directly to initiate the tendering process. This proactive step will ensure compliance with any processing deadlines set by their respective brokers.
Contacting Your Broker
It’s important to act promptly. Do not delay in tendering your shares as the expiration time approaches. Here are contact numbers for some commonly used brokers:
- Charles Schwab: 1-800-435-4000
- Fidelity: 800-343-3548
- E-Trade: 1-800-387-2331
- Robinhood: Reach them through their official contact page.
To participate, please make sure to convey your intent along with the stock symbol (LVTX) and the number of shares you wish to tender.
Guidance for Shareholders
If you’ve previously attempted to tender your shares but were unable due to processing issues, this extended offer period provides a second chance. Ensure that you act quickly to facilitate your participation in this critical offer. For LAVA shareholders who have already tendered their shares, there is no need to do so again or take further action due to the extension.
About LAVA Therapeutics
Founded as a biopharmaceutical company, LAVA Therapeutics N.V. specializes in developing bispecific gamma delta T cell engagers through its innovative Gammabody® platform. This platform has already seen promising clinical applications, including drugs targeting various cancers partnered with notable organizations such as Johnson & Johnson and Pfizer Inc. More details can be found on their website.
Conclusion
As a shareholder of LAVA, it’s crucial to understand the implications of the ongoing transaction with XOMA and participate accordingly. For any inquiries or assistance, shareholders are recommended to reach out to Alliance Advisors at the designated contact number for support in this process. Acting quickly will ensure that your interests are safeguarded during this pivotal time.
Frequently Asked Questions
What should LAVA shareholders do before November 12?
Shareholders need to tender their shares prior to the expiration time to ensure the transaction can be completed.
What happens if the required number of shares isn't tendered?
If fewer shares are tendered than needed, the transaction may not proceed, potentially leading to risks such as liquidation.
How can I tender my shares?
Contact your broker or financial institution and instruct them to tender your shares on your behalf.
Who can I contact if I have questions?
For any questions, shareholders can reach out to Alliance Advisors or LAVA's investor contact for assistance.
What is LAVA Therapeutics' business focus?
LAVA focuses on developing bispecific gamma delta T cell engagers for treating various cancers using its proprietary Gammabody® platform.