Pharming Technologies Increases Ownership in Abliva
Leiden, the Netherlands - Pharming Technologies B.V. has recently announced its decision to significantly increase its ownership stake in Abliva AB, now holding an impressive 92.70% of its shares. This move reflects Pharming's ongoing strategy to expand its presence within the biopharmaceutical sector and emphasizes its commitment to developing novel therapies for rare diseases.
Details of the Offer
Back on December 15, 2024, Pharming Technologies B.V., a wholly-owned subsidiary of Pharming Group N.V., initiated a cash offer for all outstanding shares of Abliva AB at a price of SEK 0.45 per share. By declaring the offer unconditional on February 7, 2025, and extending the acceptance period through March 6, 2025, Pharming aimed to facilitate the participation of shareholders who had not yet tendered their shares.
Understanding the Acceptance Figures
During the initial acceptance period ending on February 7, 2025, Pharming received acceptance from shareholders representing a remarkable total of 1,413,841,472 shares. This equated to approximately 87.71% of Abliva's total outstanding shares. Moreover, an additional 47,327,703 shares were tendered during the extended acceptance period.
Continuing Expansion Strategies
Since the commencement of its offer, Pharming further acquired 33,012,450 shares on the market outside of the initial offer, amounting to 2.05% of the total shares. These strategic moves combined have enabled Pharming to achieve control over 1,494,181,625 shares in Abliva, solidifying their position in the company.
Compulsory Acquisition Plans
Pharming Technologies B.V. is not stopping at merely enhancing its stake; the company intends to initiate a compulsory acquisition process concerning the remaining shares of Abliva. This action will be pursuant to the provisions of the Swedish Companies Act. Consequently, Pharming also plans to facilitate the delisting of Abliva shares from Nasdaq Stockholm.
Pharming's Commitment to Rare Diseases
As a prominent player in the biopharmaceutical industry, Pharming Group N.V. is dedicated to improving the lives of patients suffering from rare and life-threatening ailments. Their focus on innovative therapies plays a critical role in transforming healthcare outcomes globally.
About Pharming Group N.V.
Pharming Group N.V. (EURONEXT Amsterdam: PHARM/Nasdaq: PHAR) specializes in developing and commercializing protein replacement therapies and precision medicines across various global markets. With a strong headquarters in Leiden, the Netherlands, Pharming aims to serve patients worldwide, contributing significantly to healthcare advancements in over 30 regions.
For Further Communications
For inquiries regarding investor relations or corporate communications, interested parties can contact Michael Levitan, VP Investor Relations & Corporate Communications, at +1 (908) 705 1696 or via email at investor@pharming.com.
Frequently Asked Questions
What ownership stake does Pharming now have in Abliva?
Pharming has increased its ownership in Abliva to approximately 92.70%.
What was the cash offer price per share for Abliva?
The cash offer was priced at SEK 0.45 per share.
When will the settlement for shares tendered be carried out?
Settlement for shares tendered during the extended acceptance period is anticipated to occur around March 12, 2025.
What is Pharming's next step regarding remaining shareholders?
Pharming plans to initiate a compulsory acquisition procedure for the remaining shares under the Swedish Companies Act.
How does Pharming assist patients globally?
Pharming focuses on developing treatments for rare diseases, aiming to transform healthcare outcomes globally.
