RPHM 1.60 - this cashfat-biobust receives a cash offer of 1.80. Even if the offer is suspect, the $3+ cash value per share remains legit. Is this a gimme? Thoughts?
December 26, 2023
Board of Directors Reneo Pharmaceuticals, Inc. c/o Gregory J. Flesher, President and Chief Executive Officer
18575 Jamboree Rd., Suite 275-S
Irvine, CA 92612
Re: Acquisition Proposal
Dear Directors:
On behalf of Concentra Biosciences, LLC, I am pleased to submit this non-binding proposal to acquire 100% of the equity of Reneo Pharmaceuticals, Inc. for $1.80 per share in cash, plus a contingent value right (“CVR”) representing the right to receive 80% of the net proceeds payable from any license or disposition of Reneo’s programs (the “CVR Products”).....
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