InsideArbitrage Potential Deal Alert: Concentra Biosciences Offers To Buy Atea Pharmaceuticals (AVIR)

POTENTIAL DEAL DETAILS

According to the 13D filing,  Concentra Biosciences offered to buy Atea Pharmaceuticals (AVIR) for $5.75 a share in cash.

May 30, 2023: Atea Pharmaceuticals, Inc. (AVIR) announced that its Board of Directors unanimously rejected the unsolicited proposal from Tang Capital Partners, LP on behalf of Concentra Biosciences, LLC to acquire all outstanding common shares of Atea for $5.75 per share in cash, plus a contingent value right representing the right to receive 80% of the net proceeds payable from any license or disposition of Atea’s programs.

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