Zymeworks Confirms Acquisition Proposal from All Blue Falcons

Apr 29, 2022 By MarketDepth

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Zymeworks Inc. (NYSE: ZYME) confirmed yesterday evening that it had received an unsolicited, non-binding proposal from All Blue Falcons FZE and its affiliates to purchase the Company for $10.50 per share in cash.

Shares Surge Premarket

Shares of Zymeworks Inc. (NYSE: ZYME) surged over 44% during the premarket trading session following the announcement.

Clinical-Stage Biopharmaceutical

Zymeworks is a clinical-stage biopharmaceutical company focused on next-generation multifunctional biotherapeutics, and the company’s board of directors will now begin to carefully review the proposal to determine the company’s course of action, though no formal offer has been made by ABF. 

Kingsdale Advisors is acting as strategic shareholder and communications advisor to Zymeworks. Furthermore, Blake, Cassels & Graydon LLP and Wilson Sonsini Goodrich & Rosati are acting as counsel to the Company.