InsideArbitrage Event Driven Monitor – August 15, 2023
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Merger Arbitrage
- ZYNE: Zynerba Pharmaceuticals to be acquired by Harmony Biosciences Holdings (HRMY) for $60 million. Under the terms of the agreement, Harmony will commence a tender offer to acquire all outstanding shares of Zynerba for a purchase price of $1.1059 per share in cash, plus one non-tradeable contingent value right (CVR) per share, representing the right to receive potential additional payments of up to $140 million in the aggregate, subject to the achievement of certain clinical, regulatory and sales milestones.
- SAL: NBT Bancorp (NBTB) completed the acquisition of Salisbury Bancorp (SAL).
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