(RTTNews) - Allakos Inc. (ALLK) has entered into a definitive merger agreement whereby Concentra Biosciences, LLC will acquire Allakos for $0.33 in cash per share of Allakos common stock. A wholly owned subsidiary of Concentra will commence a tender offer by April 15, 2025 to acquire all outstanding shares of Allakos common stock. The merger transaction is expected to close in May 2025.
Closing of the offer is subject to certain conditions, including the tender of Allakos common stock representing at least a majority of the total number of outstanding shares, the availability of at least $35.5 million of cash at closing, and other customary closing conditions.
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