(RTTNews) - Lisata Therapeutics Inc. (LSTA) announced that it has entered into a definitive agreement to be acquired by Kuva Labs Inc., a privately held company. Under the terms of the merger agreement, Kuva will launch a tender offer to purchase all outstanding shares of Lisata common stock for $5.00 per share in cash at closing, plus one contingent value right (CVR) per share.
The CVR entitles holders to an additional $1.00 per share if a New Drug Application or similar registration is filed or formally accepted for review by the FDA or another regulatory authority for any pharmaceutical product containing the candidate certepetide before the earlier of seven years from closing or termination of the CVR agreement. If the milestone is not achieved, no further payment will be made.
The transaction is expected to close in the second quarter of 2026. Following completion, Lisata will become part of Kuva Labs, and its common stock will be delisted from the Nasdaq Capital Market.
LSTA closed Friday's regular trading at $4.18, down $0.05 or 1.18%. In after-hours trading, the stock surged to $4.99, a sharp gain of $0.81 or 19.38%.
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