Navigation Links
Maxygen, Inc. Announces Preliminary Results of Dutch Auction Tender Offer
Date:12/24/2009

REDWOOD CITY, Calif., Dec. 24 /PRNewswire-FirstCall/ -- Maxygen, Inc. (Nasdaq: MAXY), a biopharmaceutical company focused on the development of improved versions of protein drugs, today announced the preliminary results of its modified "Dutch Auction" tender offer, which expired at 5:00 p.m., New York City time, on December 23, 2009.

Based on the preliminary count by the depositary for the tender offer, Maxygen expects to accept for payment an aggregate of approximately 7,345,103 shares of its common stock at a purchase price of $5.30 per share, for a total cost of approximately $38.9 million, excluding fees and expenses related to the tender offer. The 7,345,103 shares expected to be purchased in the tender offer represent approximately 18.5% of the shares outstanding as of December 22, 2009.

The total number of shares expected to be purchased in the tender offer include the 6,557,377 shares Maxygen initially offered to purchase, as well the 787,726 additional shares Maxygen has a right to acquire (without extending the tender offer) pursuant to the terms of the tender offer.

Based on the depositary's preliminary count, a total of approximately 9,412,398 shares were validly tendered at the minimum purchase price of $5.30 per share, including 83,901 shares that were tendered through notice of guaranteed delivery. Due to oversubscription, the number of shares the Company will purchase from each tendering stockholder will be pro-rated, but all shares purchased in the tender offer will be purchased at the same price.

Final results will be determined subject to confirmation by the depositary of the proper delivery of the shares validly tendered and not withdrawn. The actual number of shares to be purchased, the proration factor and the price per share will be announced following the completion of the confirmation process. Payment for the shares accepted for purchase, and return of all other shares tendered and not purchased, will occur promptly thereafter.

Stockholders and investors who have questions or need information about the tender offer may contact the Information Agent for the offering, Okapi Partners LLC at (212) 297-0720 or toll-free (877) 285-5990.

About Maxygen

Maxygen is a biopharmaceutical company focused on developing improved versions of protein drugs through both internal development and external collaborations and other arrangements. Maxygen uses its proprietary DNA shuffling technology and extensive protein modification expertise to pursue the creation of biosuperior proteins. For more information, please visit www.maxygen.com.

SOURCE Maxygen, Inc.


'/>"/>
SOURCE Maxygen, Inc.
Copyright©2009 PR Newswire.
All rights reserved

Related medicine technology :

1. Maxygen, Inc. Commences Dutch Auction Tender Offer to Repurchase 6,557,377 Shares of Common Stock
2. Maxygen, Inc. Announces Extension of Dutch Auction Tender Offer
3. Dendreon Announces Publication of Phase 1 Study Highlighting Immunologic and Clinical Activity of Lapuleucel-T (Neuvenge(R)) in Advanced Breast Cancer Patients
4. EDAP Announces Launch of Clinical Study Combining HIFU and Chemotherapy for Localized Aggressive High Risk Prostate Cancer
5. Cephalon Announces Positive Results from a Pivotal Study of FENTORA in Opioid-tolerant Patients with Non-cancer Breakthrough Pain
6. ADVENTRX Announces Fast Track Designation Granted By the FDA For CoFactor For the Treatment of Metastatic Colorectal Cancer
7. DOV Pharmaceutical, Inc. Announces Successful Phase Ib Results for DOV 21,947
8. Phosphagenics Announces Positive Phase 1b Transdermal Insulin Clinical Trial Results
9. Xenomics Announces Implementation of its First Diagnostic Test for Acute Myeloid Leukemia Into Clinical Practice
10. Emisphere Technologies, Inc. Announces 2007 Second Quarter Financial Results
11. Amicus Therapeutics Announces Second Quarter 2007 Financial Results
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:8/8/2017)... Ltd. (NASDAQ/TASE: BLRX), a clinical-stage biopharmaceutical company focused on ... the second quarter ended June 30, 2017. ... to date: Continued ... lead project, BL-8040: Announced plans to ... stem cell mobilization treatment for autologous bone-marrow transplantation in ...
(Date:8/7/2017)... -- Diplomat Pharmacy, Inc. (NYSE: DPLO), the nation,s largest independent specialty ... 2017.  All comparisons, unless otherwise noted, are to the quarter ... Second Quarter 2017 Highlights include: ... of 3.5% Total prescriptions dispensed of 220,000, ... versus 7.6% Gross profit per prescription ...
(Date:8/2/2017)... 2, 2017 Fenita J. Caldwell ... a Pinnacle Lifetime Professional in the Field of ... at Turing Pharmaceuticals, AG. Her skills and areas ... building.                ... years of experience as a highly successful sales ...
Breaking Medicine Technology:
(Date:8/18/2017)... ... , ... Alcovit, a lime-flavored beverage that rids the body of toxins linked ... now available through Jet.com. , After 25 years of development, the company released ... to quickly detox the body thereby avoiding alcohol-induced hangovers. Whether you’re having fun with ...
(Date:8/18/2017)... ... August 18, 2017 , ... “Dangerous Inheritance”: a mystery about saving the family ... is from Southwest Nebraska where she was raised on a farm. As Diane ... is fictional, but the friendships and mantra of ‘neighbors helping neighbors’ have always been ...
(Date:8/18/2017)... ... August 18, 2017 , ... Rollon Skin ... anti-aging skincare solutions, recently announced the launch of two new skincare products, ... yet effective alternative to expensive plastic surgery or in-patient cosmetic dermatological procedures. , ...
(Date:8/18/2017)... ... August 18, 2017 , ... ... the Coatesville Veterans Affairs Medical Center. “Case #10-5411 Veterans Administration” is the ... of domestic abuse. In June 1990, Carol Mulhem started work at the ...
(Date:8/17/2017)... , ... August 17, 2017 , ... When Amy ... stretcher side nurse, she took with her a dream to make nursing education more ... Specifically, ensuring communication skills were integrated into healthcare provider education. , ...
Breaking Medicine News(10 mins):