Monday, October 11, 2021 12:50:25 PM
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Quote:
Entities associated with Roivant Sciences Ltd. (“Roivant”) collectively held as a group approximately 23% of our outstanding common shares as of March
1, 2021. In addition, in October 2017, we issued 500,000 Series A participating convertible preferred shares (“Preferred Shares”) to Roivant for gross
proceeds of $50.0 million. We issued a second tranche of 664,000 Preferred Shares to Roivant in January 2018 for gross proceeds of $66.4 million. The
Preferred Shares are non-voting and are convertible into common shares at a conversion price of $7.13 per share (which represents a 15% premium to the
closing price of $6.20 per share on October 16, 2017). The Preferred Shares are currently not convertible into common shares. The purchase price for the
Preferred Shares plus an amount equal to 8.75% per annum, compounded annually, will be subject to mandatory conversion into approximately 23 million
common shares on October 18, 2021 (subject to limited exceptions in the event of certain fundamental corporate transactions relating to our capital
structure or assets, which would permit earlier conversion at
Roivant’s option). Assuming the Preferred Shares were converted as of March 1, 2021, Roivant would have held approximately 39 million common shares,
or, 32%, of our outstanding common shares. Roivant has agreed to a four year lock-up period and standstill period whereby, pursuant to the standstill,
Roivant will not acquire greater than 49.99% of our common shares or securities convertible into common shares. Both the lockup and standstill periods
expire on October 18, 2021. Following the expiration of the standstill period, Roivant will no longer be contractually prohibited from acquiring control of
our company
Recent ROIV News
- Roivant Announces Positive NEPTUNE Study Results for Brepocitinib in NIU, as well as Board Authorization for up to $1.5 Billion Share Repurchase Program, Including Repurchase of Entire Sumitomo Pharma Stake for $648 Million • GlobeNewswire Inc. • 04/02/2024 11:00:00 AM
- Roivant Sciences Set to Join S&P MidCap 400; Sunrun to Join S&P SmallCap 600 • PR Newswire (US) • 03/26/2024 10:22:00 PM
- Roivant Reports Financial Results for the Third Quarter Ended December 31, 2023, and Provides Business Update • GlobeNewswire Inc. • 02/13/2024 12:00:00 PM
- Roivant to Report Financial Results for the Third Quarter Ended December 31, 2023, and Provide Business Update on Tuesday, February 13, 2024 • GlobeNewswire Inc. • 01/30/2024 09:05:00 PM
- Roivant Reports Positive Initial Phase 2 Results for Batoclimab in Graves’ Disease • GlobeNewswire Inc. • 12/20/2023 09:30:00 PM
- Roche Completes Acquisition of Telavant from Roivant, Including Rights to Novel TL1A Directed Antibody (RVT-3101) for the Treatment of Inflammatory Bowel Disease • GlobeNewswire Inc. • 12/14/2023 02:00:00 PM
- Roivant Announces Positive IMVT-1402 Initial 600 mg MAD Results that Confirm Best-in-Class Potential • GlobeNewswire Inc. • 11/28/2023 12:00:00 PM
- Roivant and Priovant Announce Results from Phase 2 Study of Oral Brepocitinib in Systemic Lupus Erythematosus • GlobeNewswire Inc. • 11/27/2023 01:00:00 PM
- Roivant Reports Financial Results for the Second Quarter Ended September 30, 2023, and Provides Business Update • GlobeNewswire Inc. • 11/13/2023 12:00:00 PM
- Roivant Announces Appointment of Mayukh Sukhatme to Its Board of Directors • GlobeNewswire Inc. • 11/10/2023 01:00:00 PM
- Roivant to Report Financial Results for the Second Quarter Ended September 30, 2023, and Provide Business Update on Monday, November 13, 2023 • GlobeNewswire Inc. • 10/30/2023 09:30:00 PM
- Trending: Roche to Buy Telavant From Roivant and Pfizer • Dow Jones News • 10/23/2023 07:41:00 PM
- Monday’s Wall Street Highlights: Philips, Chevron, Textainer, Okta, Roivant, and more • IH Market News • 10/23/2023 11:18:51 AM
- Roche to Buy Telavant From Roivant, Pfizer in Deal Worth Up to $7.25 Billion -- Update • Dow Jones News • 10/23/2023 08:16:00 AM
- Roche to Buy Telavant From Roivant Sciences and Pfizer in $7.25 Billion Deal • Dow Jones News • 10/23/2023 05:50:00 AM
- Roche Enters Into a Definitive Agreement to Acquire Telavant Including Rights to Novel TL1A Directed Antibody (RVT-3101) for the Treatment of Inflammatory Bowel Disease From Roivant • GlobeNewswire Inc. • 10/23/2023 05:00:00 AM
- Covant Therapeutics Appoints Vincent Hennemand as Chief Executive Officer • GlobeNewswire Inc. • 10/13/2023 12:00:00 PM
- Roivant Announces Positive Initial IMVT-1402 Phase 1 SAD and 300 mg Subcutaneous MAD Results • GlobeNewswire Inc. • 09/26/2023 10:00:00 AM
- Roivant Announces Completion of Redemption of its Outstanding Warrants • GlobeNewswire Inc. • 09/11/2023 12:00:00 PM
- Roivant Announces Redemption Fair Market Value in Connection with Redemption of its Outstanding Warrants • GlobeNewswire Inc. • 08/17/2023 08:05:00 PM
- Roivant Reports Financial Results for the First Quarter Ended June 30, 2023, and Provides Business Update • GlobeNewswire Inc. • 08/14/2023 11:00:00 AM
- Roivant to Report Financial Results for the Quarter Ended June 30, 2023, and Provide Business Update on Monday, August 14, 2023 • GlobeNewswire Inc. • 08/03/2023 08:05:00 PM
- Roivant Announces Redemption of Outstanding Warrants • GlobeNewswire Inc. • 08/02/2023 08:05:00 PM
- Telavant, a Roivant Company, Advances Inflammatory Bowel Disease Program with First Patient Dosed in Global Phase 2 Trial of Novel Anti-TL1A Antibody RVT-3101 in Crohn’s Disease • GlobeNewswire Inc. • 07/27/2023 12:00:00 PM
- Friday’s Wall Street Highlights: JPMorgan Chase, Coinbase, UPS, Theseus Pharmaceuticals, and more • IH Market News • 07/14/2023 11:51:14 AM
NanoViricides Reports that the Phase I NV-387 Clinical Trial is Completed Successfully and Data Lock is Expected Soon • NNVC • May 2, 2024 10:07 AM
ILUS Files Form 10-K and Provides Shareholder Update • ILUS • May 2, 2024 8:52 AM
Avant Technologies Names New CEO Following Acquisition of Healthcare Technology and Data Integration Firm • AVAI • May 2, 2024 8:00 AM
Bantec Engaged in a Letter of Intent to Acquire a Small New Jersey Based Manufacturing Company • BANT • May 1, 2024 10:00 AM
Cannabix Technologies to Deliver Breath Logix Alcohol Screening Device to Australia • BLO • Apr 30, 2024 8:53 AM
Hydromer, Inc. Reports Preliminary Unaudited Financial Results for First Quarter 2024 • HYDI • Apr 29, 2024 9:10 AM