Rtw Biotech Opportunities Operating Ltd completed the acquisition of a 26.6% stake in Arix Bioscience plc from Acacia Research Corporation for £47.2 million.
The Special Committee of directors intend to unanimously recommend that Arix Shareholders vote in favour of the Scheme at the Arix general meetings. The transaction is subject to regulatory approval and is expected to complete in the first quarter of 2024. The transaction is expected to be immediately accretive to RTW Bio NAV per share at completion. Kieran Millar and Ed Peel of Merrill Lynch International acted as financial advisor to Rtw Biotech and Philip Yates, Simon Hardy, and Lee Morton of Jefferies International Limited acted as financial advisor to Arix. BofA Securities, Inc. acted as financial advisor to Rtw Biotech Opportunities Operating Ltd. Katherine Moir of Clifford Chance LLP acted as legal advisor to Arix Bioscience plc.
Rtw Biotech Opportunities Operating Ltd completed the acquisition of a 26.6% stake in Arix Bioscience plc (LSE:ARIX) from Acacia Research Corporation (NasdaqGS:ACTG) for £47.2 million on January 19, 2024.