Crown Laboratories to acquire Revance
Revance Therapeutics shareholders to receive $6.66 per share in cash
Crown Laboratories, Inc. and Revance Therapeutics, Inc. announced that they have entered into a merger agreement pursuant to which Crown will acquire all outstanding shares of Revance’s common stock for $6.66 per share in cash, representing a total enterprise value of $924 million. The transaction has been unanimously approved by Revance’s board of directors and is expected to close by the end of the year.
What is Revance Therapeutics?
Revance Therapeutics is a biotechnology company focused on innovative aesthetic and therapeutic offerings.
What premium does the offer represent?
The offer represents an 89% premium over Revance’s closing market price on August 9, 2024, and a 111% premium to its 60-day volume-weighted average price.
What happens to Revance’s stock after the merger?
Revance’s stock will no longer be publicly traded on Nasdaq once the merger is complete.
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