Highly unlikely another entity comes along seeing they have had discussions with ~70 other engagements*, etc. and not even a highly dilutive equity raise was conducted as discussed(CC) pre-clock back ( 1:20)….I always wondered why they couldn’t find a “partner” to dance with over the years and decided to go at it alone?? That’s purely mismanagement at the helm and why most institution kept away (~30%) and I assume there will be class actions filed, but it will be pennies on the dollar if successful…
*Following a comprehensive review of bluebird’s strategic alternatives, including meeting with more than 70 potential investors and partners over a period of five months, and a third and final denial by the Federal Drug Administration of bluebird’s appeal for a priority review voucher, the bluebird Board determined that, absent a significant infusion of capital, bluebird is at risk of defaulting on its loan covenants.
I also don’t expect this milestone to be achieved unless PE firm and Meeks( new CEO) can partner with large Pharma to ramp sales—
payment of $6.84 in cash per contingent value right if bluebird’s current product portfolio achieves $600 million in net sales in any trailing 12-month period prior to or ending on December 31, 2027.
Of course a miracle could happen, but doubtful, so good luck if you’re considering adding or tendering when/if it goes Effective*
*OTP/SC to C
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