InsideArbitrage Event Driven Monitor – October 31, 2023

Reminder: This is the last edition of our free Event Driven Monitor. Starting November 1, 2023, the daily monitor will be rolled into our IA Plus or IA Premium plans. If you would like to sign up and support the growth of InsideArbitrage, you can do so here.

Merger Arbitrage

1. MIRO: Miromatrix Medical Inc. to be acquired by United Therapeutics Corporation (UTHR) for $35.41 million. Under the terms of the agreement, United Therapeutics will commence a tender offer to acquire all outstanding shares of Miromatrix for $3.25 per share in cash and an additional $1.75 per share in cash upon the achievement of a clinical development milestone related to Miromatrix’s development-stage, fully-implantable manufactured kidney product known as mirokidney™ by December 31, 2025.
2. DOC: Physicians Realty Trust and Healthpeak Properties (PEAK) to combine in an all stock deal. Under the terms of the agreement, each Physicians Realty Trust common share will be converted into 0.674 of a newly issued Healthpeak common share. Healthpeak and Physicians Realty Trust shareholders will own approximately 77% and 23% of the combined company, respectively.
3. SRC: Spirit Realty Capital, Inc. to be acquired by Realty Income Corporation (O) for $9.3 billion in an all stock deal. Under the terms of the merger agreement, Spirit shareholders will receive 0.762 newly-issued Realty Income common shares for each Spirit common share they own.

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