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Eiger BioPharmaceuticals (EIGR)

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Last Post: 3/31/2016 1:47:12 AM - Followers: 32 - Board type: Free - Posts Today: 0

Celladon to Merge with Eiger

 Celladon Corporation (Nasdaq:CLDN) and Eiger BioPharmaceuticals, Inc., a privately-held biopharmaceutical company, today announced that they have entered into a definitive merger agreement under which the stockholders of Eiger would become the majority owners of Celladon, and the operations of Celladon and Eiger would be combined. The proposed merger remains subject to certain conditions, including the approval of Celladon stockholders.  If approved, upon closing of the transaction, Celladon will be renamed Eiger BioPharmaceuticals, Inc.
An investor syndicate has committed to invest $39.5 million in the combined company including new investors HBM Healthcare Investments, RA Capital Management, Sabby Management, Sphera Global Healthcare, Perceptive Advisors and Monashee Capital Partners together with existing long-time Eiger stockholders, ViVo Capital and InterWest Partners.  Six million dollars of the financing has already been funded, and the remaining $33.5 million is expected to close contemporaneously with the completion of the proposed merger.  The total cash balance of the combined company upon the closing of the proposed merger and the financing is expected to be greater than $60 million.
The proposed merger will create a clinical-stage company with a diversified development portfolio of product candidates addressing novel targets for four distinct orphan diseases: Hepatitis Delta Virus, bariatric surgery-induced hyperinsulinemic hypoglycemia, pulmonary arterial hypertension, and lymphedema.

Current Share Structure:

Outstanding shares as of October 31, 2015 was 23,916,021

Authorized shares as of October 31, 2015 was 200,000,000


About the Proposed Merger

Existing Eiger stockholders as well as investors in the contemporaneous financing will receive newly issued shares of Celladon common stock in connection with the proposed merger.  Celladon is expected to issue approximately 85.0 million new shares of its common stock to Eiger stockholders and participants in the financing.  On a pro forma basis for the combined company, current Celladon shareholders are expected to own approximately 22%, current Eiger shareholders approximately 45% and the new Eiger investor syndicate approximately 33%, each on a fully-diluted basis.

The transaction has been unanimously approved by the boards of directors of both companies, and a majority of Eiger stockholders have agreed to vote in favor of the transaction. The proposed merger is expected to close in the first half of 2016, subject to the approval of the stockholders of each company as well as regulatory approval and other customary conditions.  The merger agreement contains further details with respect to the proposed merger.

Celladon’s exclusive financial advisor in the transaction is Wedbush PacGrow Healthcare.  Jefferies LLC is acting as lead financial advisor to Eiger and Piper Jaffray is acting as financial advisor.  Pillsbury Winthrop Shaw Pittman LLP served as legal counsel to Celladon and Cooley LLP served as legal counsel to Eiger.


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#976   Congrats to you and best of luck. RainerRocks 03/31/16 01:47:12 AM
#975   Added 500 more shares today between $15.11-$15.64. Cobalt Fusion 03/24/16 04:08:50 PM
#974   MMs shaking the tree hard for shares today. Cobalt Fusion 03/23/16 03:05:04 PM
#973   Understood. I will have an even 1000 Cobalt Fusion 03/21/16 04:41:04 PM
#972   I only had 10,000 shares so I bailed.I RainerRocks 03/21/16 04:32:04 PM
#971   CLDN merger now complete. Will be a Cobalt Fusion 03/21/16 04:18:52 PM
#970   CLDN news RainerRocks 02/29/16 10:38:23 AM
#969   Thanks for the update . RainerRocks 02/11/16 09:03:40 PM
#968   Meeting of Stockholders on March 21, 2016 redsox17 02/10/16 05:25:02 PM
#967   Yep,that's what I'm thinking. RainerRocks 02/09/16 08:18:35 PM
#966   You will have 666 shares and .66 paid DrShocker 02/09/16 07:43:39 PM
#965   I hear ya. I might sell after the DrShocker 02/09/16 07:39:18 PM
#964   You don't lose money until the sell off DrShocker 02/09/16 07:08:59 PM
#963   I know ,but I don't think my 10,000 RainerRocks 02/09/16 07:00:11 PM
#962   It still needs a vote DrShocker 02/09/16 06:44:31 PM
#961   Yes I'm aware of this and thought you RainerRocks 02/09/16 06:31:17 PM
#960   Value of the combined companies DrShocker 02/09/16 06:26:49 PM
#959   Error. RainerRocks 02/09/16 06:23:26 PM
#958   22% of what ..I'm confused ? RainerRocks 02/09/16 04:30:34 PM
#957   Read it again. We get a 1/15 RS DrShocker 02/09/16 04:28:33 PM
#956   CLDN...They said our shares will not change. So RainerRocks 02/09/16 04:11:17 PM
#955   Our shares are Common. What ticker symbol did DrShocker 02/09/16 04:08:31 PM
#954   But it won't affect my shares . I RainerRocks 02/09/16 04:05:30 PM
#953   It's for CLDN common DrShocker 02/09/16 03:53:27 PM
#952   OK thanks . RainerRocks 02/09/16 03:38:03 PM
#951   Hi RainerRocks, Marilynt 02/09/16 03:34:35 PM
#950   Wait..I thought the reverse stock split was for RainerRocks 02/09/16 02:38:12 PM
#949   Lower lows. Will it turn? DrShocker 02/08/16 02:37:49 PM
#948   Lower highs and no news you might be right. DrShocker 02/06/16 02:49:18 PM
#947   The double bottom is falling apart, a lot homeboy4u 02/06/16 06:08:40 AM
#946   Irresistible price right now. It's going to be DrShocker 02/06/16 01:14:18 AM
#945   Double bottom forming on the one month chart homeboy4u 02/02/16 09:42:32 AM
#944   Hey all,just checking in . RainerRocks 01/21/16 08:24:39 PM
#943   Looking good for today.....from latest 8K Cobalt Fusion 01/07/16 08:32:44 AM
#942   Expect to close the gap @1.80 TheKobra 01/05/16 12:26:18 PM
#941   back 1,67 $ reggabnet 01/05/16 11:45:13 AM
#940   Looking good today. Cobalt Fusion 01/05/16 11:04:53 AM
#939   Good pipe TheKobra 01/05/16 10:37:32 AM
#938   Looks like clearing or cover trades as the Cobalt Fusion 12/18/15 04:58:48 PM
#937   Two huge blocks after hour! More than 500.000 TheKobra 12/18/15 04:54:48 PM
#936   1,15 $ Alert nice 1,61 lol reggabnet 12/17/15 01:59:17 PM
#935   This is true RainerRocks 12/17/15 12:57:01 PM
#934   Less than 24M shares in the O/S and Cobalt Fusion 12/17/15 12:47:59 PM
#933   Yes, strange the way this stock moves. RainerRocks 12/17/15 12:46:38 PM
#932   The sp certainly moves fast. It dipped Marilynt 12/17/15 12:38:54 PM
#931   Still holding and back to green. RainerRocks 12/17/15 12:29:18 PM
#930   Next stop 1.8 TheKobra 12/17/15 09:53:48 AM
#929   WOW VERY IMPRESSIVE....... redsox17 12/17/15 06:58:45 AM
#928   Welcome aboard ! RainerRocks 12/16/15 05:39:41 PM
#927   Yes,had me worried and was about to dump RainerRocks 12/16/15 05:30:44 PM