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InsideArbitrage Potential Deal Alert: Pardes Biosciences (PRDS) approached by Foresite Capital

  • April 24, 2023


Stock Pardes Biosciences Symbol PRDS
Date Announced 04/21/2023 Source Press Release
Type Unsolicited Bid Acquiring Company/Person MediPacific, Inc.
Date of Confirmation: 07/17/2023 Price at Confirmation: $2.14
Potential Profit: 17.58% Annualized Profit: 73.77%

According to a letter the investor wrote to the company’s board that was disclosed in a regulatory filing, Foresite Capital, which owns 27% of Pardes Biosciences (PRDS), is considering a potential acquisition of the shares of Pardes Biosciences, Inc. it does not already own.

Disclaimer: Our intent with this section of the website is to present potential deals that appear to be in the pipeline. These potential deals are ones where i) the company has indicated that it is "seeking strategic alternatives", ii) there has been an unsolicited bid for a company as mentioned in a press release by the company or iii) news about the deal has been published by a leading news organization like The Wall Street Journal, The New York Times, Bloomberg, Financial Times, The Washington Post, Reuters and The Associated Press. As best as possible we will try to avoid baseless rumors. There is a high probability that many of these potential deals may not materialize and if they do, the terms of the deal may be different from what was initially reported. Please do your own due diligence before buying or selling any securities mentioned on this website. We do not warrant the completeness or accuracy of the content or data provided.