Revance Therapeutics Inc (RVNC)

[DewDiligence]

RVNC agrees to buyout at $6.66/sh cash:

https://investors.revance.com/investors/Press-Releases/news-details/2024/Crown-Laboratories-and-Revance-Announce-Entry-Into-Merger-Agreement/default.aspx

Crown Laboratories, Inc. a privately held, global innovative leader in the skincare industry, and Revance Therapeutics…today announced that they have entered into a merger agreement…

Under the terms of the agreement, which has been unanimously approved by Revance's Board of Directors, Crown will commence a tender offer to acquire all outstanding shares of Revance's common stock for $6.66 per share in cash, representing a total enterprise value of $924 million.

From my standpoint, there is nothing good to say about this deal. RVNC turned out to be one of my worst investing mistakes.

p.s. I will not tender my shares, since there is no advantage in doing so. There’s a slim possibility that the deal will collapse if enough shareholders do not tender, and if the deal is consummated I will end up getting the same $6.66/sh as the shareholders who tender.