Pharming Technologies B.V. declares unconditional and completes the recommended cash offer to the shareholders of Abliva AB (publ) and extends the acceptance period
On December 15, 2024, Pharming Technologies B.V. (“Pharming”), a wholly-owned subsidiary of Pharming Group N.V., announced a recommended cash offer to the shareholders of Abliva AB (publ) (“Abliva”) to tender all their shares in Abliva to Pharming at a price of SEK 0.45 in cash per share (the “Offer”). An offer document relating to the Offer was published on January 15, 2025.
At the end of the acceptance period of the Offer on February 7, 2025, the Offer had been accepted by shareholders representing a total of 1,413,841,472 shares and votes in Abliva, corresponding to approximately 87.7 percent of the total number of shares and votes in Abliva.1 As a result, Pharming controls in total 1,413,841,472 shares and votes in Abliva, corresponding to approximately 87.7 percent of the total number of shares and votes in Abliva.2
As set out in the offer announcement press release and the offer document regarding the Offer which was made public on January 15, 2025, completion of the Offer is conditional upon, inter alia, the Offer being accepted to such extent that Pharming becomes the owner of shares in Abliva representing more than 90 percent of the total number of shares in Abliva (on a fully diluted basis). As further set out, Pharming has reserved the right to waive, in whole or in part, one, several, or all of the conditions for completion of the Offer, including, with respect to the acceptance level condition, to complete the Offer at a lower level of acceptance.
Pharming has now decided to waive the acceptance level condition. Accordingly, as all other conditions for completion of the Offer have been satisfied, the Offer is declared unconditional and Pharming will thus complete the acquisition of all shares in Abliva that have been tendered in the Offer. Settlement for shares tendered in the Offer up to and including February 7, 2025, is expected to be initiated on or around February 14, 2025.
Read full press release below.