Lilly Extends Tender Offer For POINT Biopharma Global Until Nov. 16

(RTTNews) - Eli Lilly and Co. (LLY) announced the extension of the expiration of the tender offer to acquire all common stock of POINT Biopharma Global Inc. (PNT) for a purchase price of $12.50 per share in cash.

The tender offer, which was previously scheduled to expire on November 9, 2023, has been extended until 5:00 p.m., Eastern time, on November 16, 2023 in order for the parties to satisfy outstanding closing conditions.

The proposed acquisition is expected to close near the end of 2023.

Computershare Trust Company, N.A., the depositary and paying agent for the tender offer, has advised Lilly that, as of 4:00 p.m., Eastern time, on November 8, 2023, about 14.99 million Shares have been validly tendered and not properly withdrawn in the tender offer, representing approximately 14.16% of the issued and outstanding Shares, as of such date and time.

In October, Eli Lilly agreed to acquire POINT Biopharma Global, Inc. for around $1.4 billion.