By Liminal BioSciences Inc. (LMNL, -1.33%) is experiencing a significant surge of 41.7% in premarket trading on Wednesday. The company has announced that it will be going private at a price of $8.50 per share. Structured Alpha LP, a fund managed by Thomvest Asset Management Ltd., has agreed to acquire all of the issued and outstanding common shares of Liminal BioSciences that it does not already own.
Premium Offer
The agreed-upon price of $8.50 per share represents a premium over the stock’s closing price of $5.92 per share on Tuesday. Furthermore, it offers a substantial premium of 135% over Liminal BioSciences’ closing share price on April 4, which was the last trading day prior to Structured Alpha’s initial offer of $7.50 per share. Liminal BioSciences has now accepted the improved price of $8.50 per share.
CEO’s Perspective
“The transaction will deliver immediate value and liquidity to our minority shareholders at a substantial premium,” stated Liminal BioSciences CEO, Bruce Pritchard.
About Liminal BioSciences
Liminal BioSciences is a development-stage biopharmaceutical company with a focus on small molecule therapeutics that modulate G protein-coupled receptors (GPCR) pathways.
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