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IN BRIEF: Arix Bioscience shares suspended ahead of RTW takeover

12th Feb 2024 12:53

Arix Bioscience PLC - London-based venture capital firm focused on biotechnology companies - Shares suspended from the London Stock Exchange amid the company's acquisition by RTW Biotech Opportunities Ltd, a New York-based investment firm focused on the life sciences sector.

In November, RTW agreed to acquire the entirety of Arix's assets, with shareholders receiving 1.4633 RTW shares for each share in the company. RTW also provided a cash exit to Arix's largest shareholder, Acacia Research Corp, which has been given a total of USD57.1 million in exchange for its 26% stake in the company.

Arix stock price: 144.00 pence each on Friday

12-month change: up 24%

RTW current stock price: 112.00p, down 0.4% on Monday

12-month change: up 6.5%

By Hugh Cameron, Alliance News reporter

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Copyright 2024 Alliance News Ltd. All Rights Reserved.

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