Business
iTeos Therapeutics Enters into Agreement to Be Acquired by Concentra Biosciences for $10.047 in Cash per Share Plus a Contingent Value Right
WATERTOWN, Mass. and GOSSELIES, Belgium, July 21, 2025 (GLOBE NEWSWIRE) -- iTeos Therapeutics, Inc. (“iTeos”) (Nasdaq: ITOS) today announced that it has entered into a definitive merger agreement whereby Concentra Biosciences, LLC (“Concentra”) will acquire iTeos for $10.047 in cash per share of iTeos common stock par value $0.001 per share (“iTeos Common Stock”), plus one non-transferable contingent value right (“CVR”), which represents the right to receive: (i) 100% of the closing net cash of
About this update from Concentra Group Holdings Parent, Inc.
[{"type":"image","alt":"iTeos Therapeutics Inc.","displaySize":"","headline":null,"caption":"iTeos Therapeutics Inc.","className":"","disableSlideshowImg":false,"size":{"original":{"width":300,"height":98,"url":"https://media.zenfs.com/en/globenewswire.com/dab9c89ed5be27fd0223b3309d217533"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/MsEo.kLaaqpdagOX_znPuQ--/YXBwaWQ9aGlnaGxhbmRlcjt3PTQyMDtoPTEzNztjZj13ZWJw/https://media.zenfs.com/en/globenewswire.com/dab9c89ed5be27fd0223b3309d217533","width":300,"height":98}},"lazy":false},{"type":"text","content":"WATERTOWN, Mass. and GOSSELIES, Belgium, July 21, 2025 (GLOBE NEWSWIRE) -- iTeos Therapeutics, Inc. (“iTeos”) (Nasdaq: ITOS) today announced that it has entered into a definitive merger agreement whereby Concentra Biosciences, LLC (“Concentra”) will acquire iTeos for $10.047 in cash per share of iTeos common stock par value $0.001 per share (“iTeos Common Stock”), plus one non-transferable contingent value right (“CVR”), which represents the right to receive: (i) 100% of the closing net cash of iTeos in excess of $475 million; and (ii) 80% of any net proceeds received from any disposition of certain of iTeos’ product candidates that occurs within six months following the closing (such cash and CVR consideration, the “Offer Consideration”).","length":749,"tagName":"p"},{"type":"text","content":"Following a strategic review process conducted with the assistance of iTeos’ management and legal and financial advisors, the iTeos board of directors has unanimously determined that the acquisition by Concentra is in the best interests of all iTeos stockholders and has approved the merger agreement and related transactions.","length":326,"tagName":"p"},{"type":"text","content":"Pursuant and subject to the terms of the merger agreement, Concentra will commence a tender offer by August 1, 2025, to acquire all outstanding shares of iTeos common stock for the Offer Consideration. The closing of the offer is subject to certain conditions, including the tender of a number of shares of iTeos common stock that, together with shares of iTeos Common Stock owned by Concentra or its affiliates, represents at least a majority of the total number of outstanding shares, the availability of at least $475 million of cash (net of transaction costs and other liabilities) at closing, and other customary closing conditions. Immediate...