Information Regarding the Merger of Orchard Therapeutics plc (ORTX)
In this article, you will find essential information about the merger of Orchard Therapeutics plc (ORTX), a prominent pharmaceutical company. The shareholders of ORTX have approved the proposed merger with Kyowa Kirin & Co., and the closing is tentatively scheduled for January 24, 2024, pending a UK sanction hearing. As a result, the stock will be halted immediately following the after-hours session on January 23, 2024. If the merger proceeds as planned, the stock will remain halted on the day of closing (January 24th) and will be suspended effective January 25, 2024. The merger consideration for each American Depositary Share (ADS) held is $16.00 plus ten contingent value rights (CVRs), subject to applicable fees. Stay informed about this significant development in the pharmaceutical industry.
Merger Approval and Closure
Special Meeting Approval
At a special meeting held on December 19, 2023, the shareholders of Orchard Therapeutics plc (ORTX) approved the proposed merger with Kyowa Kirin & Co. This approval is a crucial step in the merger process and demonstrates the support and agreement of the shareholders. The merger is a strategic move that will bring together the strengths and resources of both companies to create new opportunities for growth and success.
Scheduled Closing Date
The merger is tentatively scheduled to close prior to the market open on January 24, 2024, subject to the UK sanction hearing. The scheduled closing date marks the official completion of the merger and the beginning of the new chapter for the combined entity. It is an important milestone that signifies the successful integration of the two companies and the realization of their shared vision.
UK Sanction Hearing
Before the merger can be finalized, it is subject to a UK sanction hearing. This hearing is a legal requirement in the UK and ensures that the merger complies with all necessary regulations and guidelines. The hearing provides an opportunity for any interested parties to raise objections or concerns related to the merger. Once the hearing is concluded and any necessary approvals are granted, the merger can proceed to the closing stage.
Stock Halt and Suspension
Halt following After-Hours Session
In anticipation of the closing of the merger, the stock of Orchard Therapeutics plc (ORTX) will be halted immediately following the after-hours session at 8 p.m. on January 23, 2024. This temporary halt is necessary to ensure a smooth transition and to prevent any trading activity that could potentially disrupt the merger process. During the halt, investors will not be able to buy or sell shares of ORTX.
Halt on Day of Closing
On the day of closing, which is January 24, 2024, the stock of ORTX will remain halted. This decision is made to prevent any last-minute fluctuations in the stock price that could impact the merger. The halt ensures that the closing process can proceed without any interruptions or complications. Investors should be aware that they will not be able to trade ORTX shares on this day.
Effective Suspension Date
Following the closing of the merger, the stock of ORTX will be suspended effective January 25, 2024. The suspension means that the stock will no longer be listed or traded on the exchange. It is a normal procedure that occurs after the completion of a merger. Investors should take note of this date as it marks the end of their ability to trade ORTX shares.
Details of the Merger
Company Name/Issue
The company involved in the merger is Orchard Therapeutics plc, which trades under the symbol ORTX. Orchard Therapeutics is a leading biotechnology company focused on developing innovative gene therapies to treat rare diseases.
CUSIP# and Symbol
The CUSIP# for Orchard Therapeutics plc is 68570P200, and the stock symbol is ORTX. These identifiers are used to track and identify the company’s shares in the financial markets.
Last Trading Date
The anticipated last trading date for ORTX shares is January 23, 2024. This date signifies the final opportunity for investors to buy or sell ORTX shares before the stock is halted and eventually suspended.
Marketplace Suspension Date
The anticipated marketplace effective date for the suspension of ORTX shares is January 25, 2024. On this date, the stock will no longer be available for trading on the exchange and will be officially delisted.
Merger Consideration
As part of the merger, shareholders of Orchard Therapeutics plc will receive a merger consideration of $16.00 plus ten (10) contingent value rights (CVRs) for each American Depositary Share (ADS) held. This consideration is subject to adjustment and may be influenced by various factors. Shareholders should carefully review the terms of the merger to understand the potential benefits and risks associated with the merger consideration.
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About Orchard Therapeutics plc
Company Background
Orchard Therapeutics plc is a leading biotechnology company specializing in the development of innovative gene therapies. The company is dedicated to transforming the lives of patients with rare diseases through the advancement of gene-based treatments. Orchard Therapeutics leverages cutting-edge technologies and scientific expertise to develop therapies that address the underlying genetic causes of rare diseases.
Products and Services
Orchard Therapeutics focuses on the development of gene therapies for rare diseases. The company’s product pipeline includes potential treatments for a range of genetic disorders, including primary immune deficiencies and inherited metabolic disorders. Orchard Therapeutics’ therapies aim to provide long-term solutions to these conditions by introducing functional copies of the faulty genes, thereby correcting the underlying genetic defects.
Financial Performance
As a publicly traded company, Orchard Therapeutics’ financial performance is subject to scrutiny and analysis. Investors and stakeholders often assess key financial metrics such as revenue, profitability, and growth rates to gauge the company’s financial health and prospects for the future. Orchard Therapeutics’ financial performance can provide valuable insights into the company’s ability to execute its strategic vision and deliver value to shareholders.
About Kyowa Kirin & Co
Company Background
Kyowa Kirin & Co is a global pharmaceutical company with a strong focus on research and development. The company is committed to improving the health and well-being of people worldwide by developing innovative medicines. Kyowa Kirin has a diverse portfolio of products targeting various therapeutic areas, including oncology, nephrology, and immunology.
Products and Services
Kyowa Kirin offers a wide range of pharmaceutical products designed to address the unmet medical needs of patients. The company’s product portfolio includes prescription drugs, over-the-counter medications, and biologic therapies. Kyowa Kirin’s products are developed using advanced scientific approaches and are backed by rigorous clinical research and testing.
Financial Performance
Kyowa Kirin’s financial performance is a key indicator of its success as a pharmaceutical company. Investors and stakeholders closely monitor financial metrics such as revenue, profitability, and growth rates to assess the company’s financial health and market position. Kyowa Kirin’s financial performance provides valuable insights into its ability to develop and market innovative therapies, generate returns for shareholders, and sustain long-term growth.
Impact on Shareholders
Merger Consideration for Shareholders
As part of the merger between Orchard Therapeutics plc and Kyowa Kirin & Co, shareholders of Orchard Therapeutics will receive a merger consideration of $16.00 plus ten (10) contingent value rights (CVRs) for each ADS held. The merger consideration represents the value that shareholders will receive in exchange for their shares in Orchard Therapeutics. Shareholders should carefully review the terms of the merger consideration to understand its financial implications and any potential risks or benefits.
Potential Benefits and Risks
The merger between Orchard Therapeutics and Kyowa Kirin presents both potential benefits and risks for shareholders. On one hand, the combined entity may benefit from increased operational efficiencies, expanded market reach, and a strengthened product pipeline. This could potentially result in improved financial performance and long-term value creation for shareholders. On the other hand, the merger carries inherent risks, such as integration challenges, regulatory hurdles, and uncertainties associated with the development of new therapies. Shareholders should carefully consider these factors when evaluating the potential impact of the merger on their investment.
Market Reactions and Analysis
Stock Price Movements
The announcement of the merger between Orchard Therapeutics and Kyowa Kirin is likely to generate market reactions and impact the stock price of Orchard Therapeutics. Investors and traders will closely monitor any fluctuations in the stock price, as it could present buying or selling opportunities. The stock price movements reflect the market’s assessment of the merger and its potential implications for the future prospects of Orchard Therapeutics.
Analyst Predictions
Financial analysts and industry experts often provide predictions and forecasts regarding the impact of mergers on the companies involved and the broader market. Their insights can provide valuable perspectives on the potential benefits, risks, and market reactions associated with the merger. Investors may consider reviewing these analyst predictions to gain a deeper understanding of the expectations surrounding the merger.
Industry Impact
Mergers in the biotechnology and pharmaceutical industries can have a broader impact on the sector as a whole. The merger between Orchard Therapeutics and Kyowa Kirin may influence industry dynamics, competition, and innovation. It is important for investors to stay informed about industry developments and trends to evaluate the potential impact of the merger on the broader market and identify investment opportunities.
Conclusion
The merger between Orchard Therapeutics plc and Kyowa Kirin & Co represents a significant milestone for both companies and their shareholders. The approval obtained at the special meeting and the scheduled closing date demonstrate the progress made towards completing the merger. Shareholders should be aware of the stock halt and suspension dates, as well as the details of the merger consideration. The impact on shareholders, market reactions, and industry analysis should also be carefully considered. By staying informed and evaluating the potential benefits and risks, investors can make informed decisions regarding their investment in Orchard Therapeutics and position themselves for future opportunities in the evolving biotechnology and pharmaceutical industries.