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CBMX Ticker
Posted on 8/12/17 at 5:18 pm
Posted on 8/12/17 at 5:18 pm
This stock is selling at 7.10 a share but has an offer for over $8.00
Any thoughts?
It will acquire CombiMatrix, a family health molecular diagnostics firm specializing in DNA-based reproductive health and pediatric testing services, in al all-stock transaction valued at ~$33M (based on an Invitae share price of $9.49) subject to adjustments. It estimates that the per-share price actually received by CBMX shareholders will be between $8.00 and $8.65. The deal also includes an exchange offer in which holders of CBMX Series F warrants will be offered ~$6M of Invitae common, contingent on 90% of the warrant holders accepting the offer. If less than 90% are on board, Invitae may elect to terminate the merger. The deal should close in Q4.
Any thoughts?
It will acquire CombiMatrix, a family health molecular diagnostics firm specializing in DNA-based reproductive health and pediatric testing services, in al all-stock transaction valued at ~$33M (based on an Invitae share price of $9.49) subject to adjustments. It estimates that the per-share price actually received by CBMX shareholders will be between $8.00 and $8.65. The deal also includes an exchange offer in which holders of CBMX Series F warrants will be offered ~$6M of Invitae common, contingent on 90% of the warrant holders accepting the offer. If less than 90% are on board, Invitae may elect to terminate the merger. The deal should close in Q4.
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