Business
Theravance Biopharma, Inc. Announces Final Results of Tender Offer
DUBLIN, Nov. 22, 2022 /PRNewswire/ -- Theravance Biopharma, Inc. ("Theravance Biopharma" or the "Company") (NASDAQ: TBPH) today announced the final results of
About this update from Theravance Biopharma, Inc.
[{"type":"text","content":"DUBLIN, Nov. 22, 2022 /PRNewswire/ -- Theravance Biopharma, Inc. (\"Theravance Biopharma\" or the \"Company\") (NASDAQ: TBPH) today announced the final results of its Dutch auction tender offer (the \"Offer\") to purchase up to $95 million of its ordinary shares, par value $0.00001 per share (the \"Shares\"), which expired at midnight, New York City time, at the end of the day on November 17, 2022.\n\n \n \n \n \n \n \n\n \nBased on the final count by Computershare Trust Company, N.A., the depositary for the Offer (the \"Depositary\"), a total of 115,967 Shares were properly tendered and not properly withdrawn.\nThe Company has accepted for purchase 115,967 Shares through the Offer at a price of $10.50 per Share, for an aggregate cost of approximately $1.2 million, excluding fees and expenses relating to the Offer. The total of 115,967 Shares that the Company has accepted for purchase represents approximately 0.2% of the total number of Shares outstanding as of November 21, 2022. As the Company accepted for purchase all the Shares that were properly tendered and not properly withdrawn, there is no proration factor. The Company intends to use the unused portion of the Offer to enlarge the Company's previously announced, planned open market share repurchase plan, which the Company expects to finalize and commence after the closing of the Offer.\nThe Depositary will promptly issue payment for the Shares validly tendered and accepted for purchase in the Offer.\nTo the extent that the Company purchases shares pursuant to the Company's anticipated open market share repurchase plan, such purchases may be on the same terms as, or on terms that are more or less favorable to shareholders than, the terms of the Offer.\nEvercore Group L.L.C. acted as dealer manager for to act as dealer manager for the Offer. Company shareholders who have questions or would like additional information about the Offer may contact Georgeson LLC, the information agent for the Offer, toll-free at 877-797-1153.\nAbout Theravance Biopharma Theravance Biopharma, Inc.'s focus is to deliver Medicines that Make a Difference® in people's lives. In pursuit of its purpose, Theravance Biopharma leverages decades of expertise, which has led to the development of FDA-approved YUPELRI® (revefenacin) inhalation solution indicated for the maintenance treatment of patients with...