InsideArbitrage Event Driven Monitor – August 23, 2024

Merger Arbitrage

1. CYTH: The acquisition of Cyclo Therapeutics, Inc. (CYTH) by Rafael Holdings, Inc. (RFL), for a closing value of $28.67 million. Under the terms of the agreement, Rafael Holdings will issue shares of its Class B common stock to Cyclo Therapeutics’ shareholders, based on an exchange ratio valuing Cyclo Therapeutics shares at $0.95 per share and Rafael Holdings at its cash value combined with the value of its marketable securities and certain other investments less certain current liabilities.
2. ASXC: The acquisition of Asensus Surgical, Inc. (ASXC) by KARL STORZ Endoscopy-America, Inc. was completed on August 22, 2024. It took 76 days for the deal to be completed.
3. SQSP: Squarespace (SQSP) filed the definitive proxy statement for its merger with Permira. The special meeting for the stockholders of Squarespace is scheduled to be held on September 20, 2024.

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

Only plus or premium subscribers can access this post. Subscribe today.