InsideArbitrage Event Driven Monitor – February 19, 2024

Merger Arbitrage

1. KNTE: The acquisition of Kinnate Biopharma Inc. (KNTE) by XOMA Corporation (XOMA) for -$71.33 million. Under the terms of the agreement, XOMA Corporation will acquire Kinnate for a price per share of Kinnate common stock of between $2.3352 and $2.5879 in cash, consisting of (i) a base cash price of $2.3352 per share and (ii) an additional cash amount of up to $0.2527 per share, plus one non-transferable contingent value right per share.
2. HRT: The acquisition of HireRight Holdings Corporation (HRT) by investment funds affiliated with General Atlantic and Stone Point Capital for $1.65 billion or $14.35 per share in cash.
3. EAR: The acquisition of Eargo (EAR) by an affiliate of Patient Square Capital was completed on February 16, 2024. It took 54 days for this deal to be completed.

You can check out new deals, all deal updates, and spreads on active deals in our Merger Arbitrage Tool for premium members here.

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