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DewDiligence

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DewDiligence

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Re: None

Sunday, 01/12/2020 8:20:44 PM

Sunday, January 12, 2020 8:20:44 PM

Post# of 251670
VELO.CO is being acquired in a deal where insiders are accepting a lower price than ordinary shareholders:

https://www.globenewswire.com/news-release/2019/11/25/1951720/0/en/Asahi-Kasei-Group-Announces-a-Recommended-Conditional-Voluntary-Public-Offer-for-Veloxis.html

The price of the Offer is DKK 6.00 in cash for each share in Veloxis (the ''Share Offer Price'') except for shares and warrants owned by the two majority shareholders and a group of directors who have accepted to tender their shares at DKK 4.45 in cash for each share in Veloxis…

I can’t recall seeing a deal like this; the terms are presumably mandated by Danish securities law and Danish law governing non-profit foundations, who are majority owners of VELO.CO.

This deal was initially announced on 11/25/19. The nominal deal value is $1.3B.

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