$ITOS NASDAQ Equity Corporate Actions Alert # 2025 - 464
Information Regarding the Tender Offer of iTeos Therapeutics, Inc. (ITOS)
https://www.nasdaqtrader.com/TraderNews.aspx?id=ECA2025-464
The tender offer by Concentra Biosciences, LLC to acquire all of the outstanding common stock of iTeos Therapeutics, Inc. (ITOS) is scheduled to expire one minute after 11:59 p.m. ET on August 28, 2025, unless extended or terminated. The subsequent merger is tentatively scheduled to close prior to the market open on August 29, 2025. In anticipation of the closing, the stock will be halted immediately following the after-hours session at or around 7:50 p.m. on August 28, 2025. If the merger closes as planned, the stock will remain halted on the day of closing (August 29th) and will be suspended effective September 2, 2025.
Tender offer: $10.047, plus one non-transferable contingent value right (CVR) for each share of ITOS held.
$ITOS Agrees to be Acquired by Concentra Biosciences for $10.047 in Cash per Share Plus a Contingent Value Right
https://www.globenewswire.com/news-release/2025/07/21/3118625/0/en/iTeos-Therapeutics-Enters-into-Agreement-to-Be-Acquired-by-Concentra-Biosciences-for-10-047-in-Cash-per-Share-Plus-a-Contingent-Value-Right.html
CVR represents the right to receive:
1) 100% of the closing net cash of ITOS in excess of $475 million. If ITOS has $400m in closing net cash, nothing gets distributed to CVR holders. If ITOS has $500m in net closing cash, then $25m will be distributed to CVR holders
2) 80% of any net proceeds received from any disposition of certain of iTeos’ product candidates that occurs within six months following the closing
$ITOS Is management going to do anything about strategic alterbatives and preserve shareholder capital or just smoke and mirror announcement weeks ago?
