Deal Snapshot
Tetraphase, AcelRx Pharmaceuticals Agree to Increased Merger Price
Thursday 28 May 2020

US-based biopharmaceutical company Tetraphase Pharmaceuticals, Inc. (NASDAQ: TTPH) has entered into an amendment to an agreement and plan of merger, dated 15 March, to which the company is a party with AcelRx Pharmaceuticals, Inc. and its merger subsidiary, to increase the consideration payable to Tetraphase shareholders, the company said.

The revised consideration is USD 30m in stock and cash based on the AcelRx closing share price on May 22, 2020, plus an additional USD14.5 m in contingent value rights payable in cash.

The total consideration payable to Tetraphase stockholders and warrant holders includes AcelRx stock valued at USD 24.6m, based upon the closing share price of AcelRx stock of USD 1.52 on May 22, 2020, plus USD 5.4m in cash.

Date Published: 28/05/2020