PCRX acquires FLXN for $8.50/sh cash_plus_non-tradeable CVR: https://www.globenewswire.com/news-release/2021/10/11/2311713/29848/en/Pacira-BioSciences-to-Acquire-Flexion-Therapeutics-Further-Expanding-Leadership-Position-in-Non-Opioid-Pain-Management.html The buyout price—excluding the CVR—is a 47% premium to Friday’s close. The nominal deal value is $428M. The CVR payout schedule is as follows: • $1.00 per share if total calendar year ZILRETTA net sales achieve $250 million; • $2.00 per share if total calendar year ZILRETTA net sales achieve $375 million; • $3.00 per share if total calendar year ZILRETTA net sales achieve $500 million; • $1.00 per share upon U.S. FDA approval of FX201; and • $1.00 per share upon U.S. FDA approval of FX301. The milestones associated with each contingent cash payment must be achieved, if at all, on or before December 31, 2030.