Halozyme Therapeutics, Inc. completed the acquisition of Antares Pharma, Inc..
The transaction is subject to the satisfaction of customary closing conditions and applicable regulatory approvals. On April 27, 2022, a purported Antares Pharma, Inc. stockholder filed a complaint against Antares Pharma, Inc. and each member of Antares Pharma, Inc. Board in the United States District Court for the Southern District of New York. On April 30, 2022, a purported Antares Pharma, Inc. stockholder filed a complaint against Antares Pharma, Inc. and each member of Antares Pharma, Inc. Board in the United States District Court for the Eastern District of New York. As of May 12, 2022, the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, with respect to the transaction, has expired. The transaction is expected to close in the first half of 2022. As of April 26, 2022, the tender offer is scheduled to expire on May 23, 2022. The transaction is expected to be immediately accretive to Halozyme's 2022 revenue and non-GAAP earnings.
BofA Securities and Wells Fargo Securities LLC are acting as financial advisors to Halozyme. Daniel S. Dokos, Elizabeth S. Weiswasser, Graham Magill, Jeffrey D. Osterman, John E. Scribner, John Patrick Barry, Michael J. Aiello, Paul J. Wessel, Sachin Ko, John O'Loughlin, Stefania Di Trolio Venezia, Eileen Hren Citron, Olivia J. Greer, Michael C. Naughton, Rebecca Sivitz of Weil, Gotshal & Manges LLP is acting as legal advisor to Halozyme Therapeutics, Inc. Jefferies LLC is acting as financial advisor and fairness opinion provider to Antares and Graham Robinson and Faiz Ahmad of Skadden, Arps, Slate, Meagher & Flom LLP is acting as legal advisor. Roy Tannenbaum and Philip Richter of Fried Frank acted as counsel to BofA Securities. Equiniti Trust Company is depositary and the transfer agent of Antares. D.F. King & Co., Inc. is acting as information agent of Antares. Cahill Gordon & Reindel LLP acted as legal counsel the lender in the transaction. Conor Larkin of Morgan, Lewis & Bockius LLP acted as legal advisor to Antares Pharma, Inc. (NasdaqCM:ATRS).
Halozyme Therapeutics, Inc. (NasdaqGS:HALO) completed the acquisition of Antares Pharma, Inc. (NasdaqCM:ATRS) on May 23, 2022. In connection with the merger, all Antares shares not validly tendered in the tender offer have been converted into the right to receive the same $5.60 per share in cash. As of May 24, 2022, Antares common stock will cease to be traded on the NASDAQ Global Select Stock Market. The minimum tender condition and all of the other conditions to the offer have been satisfied. As of May 24, 2022, Antares Pharma deregistration of unsold securities.