Knight Therapeutics Announces the Results of Tender Offer for Grupo Biotoscana

Knight Therapeutics Inc. has completed the Tender offer that it has committed for over 95% ownership of Grupo Biotoscana. The pan-American specialty pharmaceutical company has posted the results of the tender offer process which was purposed for the acquisition of all Biotoscana Investments S.A. provided related outstanding Brazilian Depositary Receipts. A total of 49,778,512 of BDRs were tendered by BDR holders thereby resulting in Knight owning 98% of all outstanding GBT shares and BDRs. The settlement of the Tender Offer shall occur on August 18, 2020. On the Settlement Date, Knight will payout a total of R$517,837,423.

According to report on the date hereof 169,757 BDRs were offered in the tender at the Offer Price. Knight will pay R$11.23 for every BDR to its Holders who decided the price. Knight will pay R$8.98 one every BDR on the Settlement Date in cash while R$2.25 per BDR will be deposited in an escrow account in order to provide the benefit to BDRs Holders. The amount of R$0.91 is purposed to be at any time before November 29, 2022, and 49,608,755 BDRs were offered in the tendere for the Alternative Offer Price. Knight is subject to pay in cash R$10.40 on every BDR to BDR Holders who chose this price. While the Brazilian Depositary Receipts that are left on settlement date would be less than 5% of the total capital stock of GBT.

Knight approved the squeeze out of the remaining BDRs that the details it provided in the Notice. Knight will delist the GBT in Brazil and Luxembourg after Squeeze-Out.

BDR Holders have three days to elect the get Offer Price’s final auction value or it would be able to choose the Alternative Offer Price subject to the adjustment of the Selic Rate. According to the terms Knight keeps the right to buy BDRs at the Offer Price Alternative to BDR Holders if they, subject to Deadline Squeeze-Out, don’t provide the necessary documents and information.

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