Tetraphase Pharmaceuticals and AcelRx Pharmaceuticals Enter into Definitive Merger Agreement
TETRAPHASE PHARMACEUTICALS INC (TTPH)
Last tetraphase pharmaceuticals inc earnings: 3/11 09:29 pm
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Source: Business Wire
AcelRx to Acquire Tetraphase in an all-stock transactionTetraphase equity holders to own 14.6% of the combined company and receive Contingent Value Rights worth up to $12.5 MillionAcquisition Expected to Close in Q2 2020Companies Enter into a Co-Promotion Agreement WATERTOWN, Mass.--(BUSINESS WIRE)--Tetraphase Pharmaceuticals, Inc. (Nasdaq: TTPH), a biopharmaceutical company focused on commercializing its novel tetracycline XERAVA to treat serious and life-threatening infections, today announced the execution of a definitive merger agreement pursuant to which AcelRx Pharmaceuticals (Nasdaq: ACRX) would acquire Tetraphase in a stock for stock transaction. Under the terms of the agreement, Tetraphase stockholders will receive, for each share of Tetraphase common stock, 0.6303 of a share of AcelRx common stock, valued at approximately $14.4 million as of the close of trading on March 13, 2020, and one contingent value right (CVR), which would entitle the holders to receive aggregate p
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