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Jounce Therapeutics Announces Closing of Tender Offer (5/03/23)
Jounce Therapeutics, Inc. (NASDAQ: JNCE) (“Jounce” or the “Company”), a clinical-stage company focused on the discovery and development of novel cancer immunotherapies and predictive biomarkers, today announced that Concentra Biosciences, LLC (“Concentra”), through its wholly owned subsidiary Concentra Merger Sub, Inc. (“Concentra Merger Sub”), has successfully completed the previously announced tender offer to acquire all outstanding shares of the common stock of Jounce for $1.85 per share in cash plus a non-tradeable contingent value right (a “CVR”) per share. The $1.85 per share upfront consideration represents a premium of approximately 75% to Jounce’s closing share price immediately prior to the public disclosure of Concentra’s acquisition proposal on March 14, 2023.
The tender offer expired at 6:00 p.m., Eastern Time, on May 3, 2023. As of the expiration of the offer, 36,367,727 shares of Jounce common stock had been validly tendered and not validly withdrawn from the tender offer, representing approximately 69.09% of the outstanding shares of Jounce common stock. All conditions of the offer were satisfied or waived, and Concentra completed its acquisition of all outstanding shares of Jounce that were validly tendered and not validly withdrawn for the offer price.
Following the closing of the tender offer, Concentra Merger Sub merged with and into Jounce and all shares of Jounce common stock that had not been validly tendered were converted into the right to receive the same $1.85 per share in cash plus one CVR per share (the “Merger”). As a result of the Merger, Jounce became a wholly owned subsidiary of Concentra. Shares of Jounce common stock ceased trading on Nasdaq and Concentra intends promptly to cause such shares to be delisted. Payment will be made promptly to all former Jounce common stockholders regardless of whether they tendered their shares.
About Jounce Therapeutics
Jounce Therapeutics, Inc. is a clinical-stage immunotherapy company focused on the discovery and development of novel cancer immunotherapies and predictive biomarkers. For more information, please visit www.jouncetx.com.
https://www.globenewswire.com/news-release/2023/05/04/2660993/0/en/Jounce-Therapeutics-Announces-Closing-of-Tender-Offer.html
Amended Schedule 14D-9 (4/24/23)
Potential upside.
Jounce Acquisition: Exploring Whether It Is Worth It To Pay Up For CVR Value (4/18/23)
https://seekingalpha.com/article/4594797-jounce-acquisition-exploring-whether-worth-it-to-for-cvr-value
Jounce Therapeutics Enters Into Agreement to Be Acquired by Concentra Biosciences for $1.85 in Cash per Share Plus Contingent Value Rights (3/27/23)
CAMBRIDGE, Mass., March 27, 2023 (GLOBE NEWSWIRE) -- Jounce Therapeutics, Inc. (NASDAQ: JNCE) (“Jounce” or the “Company”), a clinical-stage company focused on the discovery and development of novel cancer immunotherapies and predictive biomarkers, today announced it has entered into a definitive merger agreement whereby Concentra Biosciences, LLC (“Concentra”) will acquire Jounce for $1.85 in cash per share plus a non-tradeable contingent value right (the “CVR”).
The $1.85 per share upfront consideration represents a premium of approximately 75% to Jounce’s closing share price immediately prior to the March 14, 2023 public disclosure of Concentra’s acquisition proposal.
Following a thorough review process conducted with the assistance of its legal and financial advisors, Jounce’s Board of Directors has determined that the acquisition by Concentra – of which Tang Capital Partners, LP is the controlling shareholder – is in the best interests of all Jounce shareholders, and has unanimously approved the merger agreement.
Jounce’s Board of Directors is no longer recommending the proposed all-share merger transaction (the “Redx Business Combination”) with Redx Pharma Plc (AIM:REDX) (“Redx”). The Jounce Board of Directors has notified Redx of the withdrawal of its recommendation in favor of the Redx Business Combination and termination of the co-operation agreement dated February 23, 2023 between Jounce and Redx.
In conjunction with the merger agreement, Jounce is implementing a workforce reduction of approximately 84% of its employees. This reduction is expected to be completed within the next month and Jounce will incur restructuring costs totaling approximately $6.5 million1. The remaining Jounce employees will work to complete the sale of the Company, conduct activities to maximize the value of the CVR, work to ensure that patients on the SELECT and INNATE trials have the opportunity to continue receiving therapy with vopratelimab, JTX-8064 and pimivalimab and to otherwise ensure a smooth transition to Concentra.
Pursuant and subject to the terms of the merger agreement, a subsidiary of Concentra will commence a tender offer by April 7, 2023 to acquire all outstanding shares of Jounce for $1.85 in cash per share at closing plus a non-tradeable CVR representing the right to receive 80% of the net proceeds payable for a period of ten years post-closing from any license or disposition of Jounce’s programs effected within two years of closing and 100% of the potential aggregate value of certain specified potential cost savings.
Closing of the tender offer is subject to certain conditions, including the tender of Jounce shares representing at least a majority of the total number of outstanding shares as of immediately following the consummation of the offer; the availability of at least $110 million of cash and cash equivalents, net of any tail and closing costs, at closing, and other customary conditions. The acquisition is expected to close in the second quarter of 2023.
About Jounce Therapeutics
Jounce Therapeutics, Inc. is a clinical-stage immunotherapy company dedicated to transforming the treatment of cancer by developing therapies that enable the immune system to attack tumors and provide long-lasting benefits to patients through a biomarker-driven approach. Jounce currently has multiple development stage programs ongoing while simultaneously advancing additional early-stage assets from its robust discovery engine based on its Translational Science Platform. For more information, please visit www.jouncetx.com.
https://www.globenewswire.com/news-release/2023/03/27/2634797/0/en/Jounce-Therapeutics-Enters-Into-Agreement-to-Be-Acquired-by-Concentra-Biosciences-for-1-85-in-Cash-per-Share-Plus-Contingent-Value-Rights.html
I know nothing about this Company. The news crossed my desk so I decided to post here. I wish you the very best
JNCE: Nice "offer", but will they take it??? (Too bad the offer was for $100-per-share.)
Trust me, I saw that yesterday. Had 4,200 shares, so it hurts to look. Had a very bad experience with GTx years ago when they announced a deal similar to the one this one did last month, so had little choice but to let go. Got deeper into Tesla, and a nice mover with the funds.
Tesla down a little, but.the mover up 100%. so, still hurts, but I'm okay with the flip.
Had hoped Jounce management would do better for shareholders from the start.....lost confidence with that earlier announcement.
GL!
Jounce Therapeutics Confirms Receipt of Unsolicited Proposal from Concentra Biosciences
March 14 2023 - 09:00PM
GlobeNewswire Inc.
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The Board of Directors (the “Board”) of Jounce Therapeutics, Inc. (NASDAQ: JNCE) (“Jounce” or the “Company”), a clinical-stage company focused on the discovery and development of novel cancer immunotherapies and predictive biomarkers, today confirmed that Concentra Biosciences, LLC (“Concentra”), of which Tang Capital Partners, LP is the controlling shareholder, has made an unsolicited and non-binding proposal (“the Proposal”) to acquire 100% of the equity of Jounce. According to the Schedule 13D filed today with the U.S. Securities and Exchange Commission (“SEC”) disclosing the Proposal, Tang Capital1 is currently approximately a 10.2% shareholder of Jounce.
The Proposal consists of $1.80 in cash per share plus a contingent value right (“CVR”) representing the right to receive 80% of the net proceeds payable from any license or disposition of certain of Jounce’s legacy programs2 (the “CVR Products”). The proposal is subject to limited confirmatory due diligence and is based on the availability of at least $130 million of cash and cash equivalents at closing, net of any tail and closing costs.
On February 23, 2023, the Company announced a recommended business combination with Redx Pharma (AIM: REDX) (“Redx”) via a proposed all share merger transaction (the “Business Combination”). The transaction is anticipated to be completed during the second quarter of 2023, subject to necessary regulatory and shareholder approvals. Shareholders are advised that no action is necessary at this time.
The Board is committed to acting in the best interests of all shareholders, consistent with its fiduciary duties. A further announcement will be made in due course.
About Jounce Therapeutics
Jounce Therapeutics, Inc. is a clinical-stage immunotherapy company dedicated to transforming the treatment of cancer by developing therapies that enable the immune system to attack tumors and provide long-lasting benefits to patients through a biomarker-driven approach. Jounce currently has multiple development stage programs ongoing while simultaneously advancing additional early-stage assets from its robust discovery engine based on its Translational Science Platform. For more information, please visit www.jouncetx.com.
For further information, please contact:
Jounce Therapeutics, Inc
Kim Drapkin
ir@jouncetx.com T: +1-857-259-3840
Cowen (Financial Adviser to Jounce) T: +1-646-562-1010
Tanya Joseph / Erik Schuchard / Giles Roshier T: +44 (0)203 011 0460
Stern Investor Relations (Adviser to Jounce)
Julie Seidel T: +1-212-362-1200
Longacre Square Partners (Adviser to Jounce)
Dan Zacchei / Rebecca Kral
Jounce@longacresquare.com
Still not getting the ruuuuun that others get. Not so sure this is the best thing for Jounce, though, or it would be flyyyyyiiiiing, imo. Reverse Merger on VB LT has it heading for Mars. I suppose because I own this, not that. :(
BTW, been deeeep in Jounce since early December. Was really hoping for a straight out Gilead BO. But, that was dreaming.
Loading here for next leg up ,doesn’t seem like it’s going to shat all over itself like everything else is doing lately
Loading upppp
* * $JNCE Video Chart 09-15-2020 * *
Link to Video - click here to watch the technical chart video
17 Million float... Chart Looping Sweet
Maybelinne 13 plus soon
Weeeeee..... passed $11!!!!!
Passed it!!
Agile be 10 soon imo
* * $JNCE Video Chart 09-01-2020 * *
Link to Video - click here to watch the technical chart video
And just above... lol
With the. Olive i just Bought some below 7
Lets see
Great news today!!
TYPICAL ALGO MM GAP & TRAP
THE CROOKS HAVE BEEN DOING THIS ALOT
THE TREND IS GAP & TRAP
ROBIN HOOD TRADERS
11.81-7.70
DEATH DROP
jnce
Nice JNCEmoving up!!! Currently up 8.99% today!!
JNCE buy 8.99 (8,99)
External second opinions for review:
Yahoo finance also has a good intro writeup:
https://finance.yahoo.com/quote/JNCE/profile?p=JNCE
Barchart has a quick actionable summary that is backed up with features for the more technical:
(Note: Barchart's foundation includes someone who came here from Russia.)
https://www.barchart.com/stocks/quotes/JNCE
Finviz offers a convenient way to check the analysts, news, social sentiment, and insider stock transactions
https://finviz.com/quote.ashx?t=JNCE
normal chart
log chart
normal chart
log chart
* * $JNCE Video Chart 12-04-2019 * *
Link to Video - click here to watch the technical chart video
Gonna take a starter tomorrow..
To bad not more people listened!! Selling a little today!!!! Nice % profit!!
JNCE UP AGAIN!!!! NEVER HIT 3.60-4.00!!! Glad I added in high 4s!!! UP over 8% thus far today!!!
Guess retracement PREDICTION to the 4.00- 3.60 range didn't happen!!! GLad I added at the 4.80s!!!! Already sold some as I had bought some for a fast trade!!!! still have the Bulk!!! Boy if I had waited for 4 OR 3.60 !!! never would have made this cash!!!
You did make predictions!!! SO IGNORE ALL YOU WANT!!!! BOUGHT MORE AND CONFIDENT I'll BE MAKING OUT JUST FINE!!!!
I dont make predictions.
There isnt just one single target point that must get hit. I see it as a bunch of target possibilities.
I draw technical road maps,and watch how it plays out ,while seeing what it does, notice the patterns, etc... stronger possibilities develop. like the double bottom now at 4.65 area and the key Ma, it could hold here and rally up, but there is resistance overhead (5.10-5.30 area to watch. that might cap and send the price downward. it just has to be watched. I dont make predictions.
If you want to play mind games like a troll...I can ignore you and sit in this room alone.your choice.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=152315990
Quiet..... waiting for a bit more down to buy.... you forgot your 3.00 call
Jounce bounces back into resistance
5.20-5.50 resistance fights against 5.00-4.90-4.80 aupport.
to win the next 1 dollar move.
JNCE 5 minute
Looks like my forecast was pretty good
from 4 days ago. when you were laughing.
Ive been studying chart analysis for about 15 years now. getting pretty good at it. but nothing is perfect.
as long as it gets me in the ballpark,I'm ok.
It was a bubble pumped to 6 dollars, and needed to cool off. 4.70 was the target zone (4.60-4.70) that I forecasted. Now ,I'm looking for the bounce to hit resistance (5.25-5.40 and roll over and down another dollar, maybe. Target zone for the Fib math is 4.00-4.25 area. even a target around 3.85-4.00 area, but its trickier now. IF JNCE really has strong bullish momentum, it could recover and hold at 4.75 and retest 6, and not be looking to retest 4.
watching the resistance steps now.
I follow price action in complex patterns
Not wanting to confuse anyone, this chart I last posted showing the 6 dollar target is not my finished target, its just the current one, based on the latest math patterns.
I never said nor expected a target hitting 2.50. I saw it held at 2.75 area and double bottomed again. It made a good rally, and so far so good for longs.
When I recently started looking at Jounce, I was forecasting a pullback target area at 3.50 , but it held at 3.60. thats why I didnt get filled in the past cycle, but I'm watching it for now.
Analysts make all kinds of target projections, and they are all way up there, but they arent describing the up and down track patterns along the way. I examine the track patterns along the way. I'm guessing you probably do as well.
Good trading to you.
Jounce has become a bubble now. pumping up, will it get hyper bubbled now, or cool off and be more normal.
Forecast is 10 dollars.... but as I said NOTHING GOES STRAIGHT UP !!!! BUT 2.50 is a joke!!!! Remember JNCE HAS REVENUES!!! BUT ANYONE THINKING 6 is a TOP For a TARGET WELL I wouldnt be here!!!
Looks like the 6 dollar target reacted as forecasted. But how low will the pullback go is anyones technical guess.
My first reaction target is the 4.60 area.
IF the 6 dollar target is a finished rally wave, the basic Fib math for a rally 3.00 to 6.00 places the 50% Fib around 4.50.
You are forgetting the places JNCEis being recommended at!! Found another one last night.... SURE at some point it will back off but thus far anyone thinking that has lost out!! I think as they become more and More CF positive..... people will regret missing out!!!! But anyone thinking 4 or under should get out now IMO.... I am hoping we go sub 5 so I can buy more!!!!!
looks like its heading for 6 dollars ,but its getting bubbled way too high too fast.
slam down coming , first 4.60 area (the 50ma) then 4.00-3.85
Dont laugh at the geometry and Fib math. just watch and see if it happens.
Glad for you to have a good trade going. I'd be taking profit at this weeks peak if it was me.
bubbles always get popped.
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