INDIANAPOLIS, Dec. 18,
2023 /PRNewswire/ -- Eli Lilly and Company (NYSE:
LLY) today announced the extension of the expiration of the tender
offer to acquire all of the issued and outstanding shares
("Shares") of common stock of POINT Biopharma Global Inc. (NASDAQ:
PNT), for a purchase price of $12.50
per share in cash, without interest and less any applicable tax
withholding.
The tender offer, which was previously scheduled to expire at
5:00 p.m., Eastern time, on
Dec. 15, 2023, has been extended
until 5:00 p.m., Eastern time, on
Dec. 22, 2023, unless the tender
offer is further extended or earlier terminated, in order for the
parties to satisfy the minimum tender condition. All
regulatory approvals necessary for the consummation of the
transaction have been obtained.
Computershare Trust Company, N.A., the depositary and paying
agent for the tender offer, has advised Lilly that, as of
5:00 p.m., Eastern time, on
Dec. 15, 2023, approximately
24,338,647 Shares have been validly tendered and not properly
withdrawn in the tender offer, representing approximately 22.81% of
the issued and outstanding Shares, as of such date and time.
Holders that have previously tendered their Shares do not need to
re-tender their Shares or take any other action in response to the
extension of the tender offer. Questions or requests for assistance
may be directed to Georgeson LLC, the information agent for the
tender offer, by calling toll free 1-800-932-9864 or via email to
Pointbiopharma@georgeson.com.
About Lilly
Lilly unites caring with discovery
to create medicines that make life better for people around the
world. We've been pioneering life-changing discoveries for nearly
150 years, and today our medicines help more than 51 million
people across the globe. Harnessing the power of biotechnology,
chemistry and genetic medicine, our scientists are urgently
advancing new discoveries to solve some of the world's most
significant health challenges, redefining diabetes care, treating
obesity and curtailing its most devastating long-term effects,
advancing the fight against Alzheimer's disease, providing
solutions to some of the most debilitating immune system disorders,
and transforming the most difficult-to-treat cancers into
manageable diseases. With each step toward a healthier world, we're
motivated by one thing: making life better for millions more
people. That includes delivering innovative clinical trials that
reflect the diversity of our world and working to ensure our
medicines are accessible and affordable. To learn more,
visit Lilly.com and Lilly.com/news or follow us
on Facebook, Instagram, and LinkedIn. C-LLY
Cautionary Statement Regarding Forward-Looking
Statements
This press release contains forward-looking
statements regarding Lilly's proposed acquisition
of POINT and the anticipated occurrence, manner and timing of
the proposed tender offer and the closing of the proposed
acquisition. All statements other than statements of historical
fact are statements that could be deemed forward-looking
statements. Forward-looking statements reflect current beliefs
and expectations; however, these statements involve inherent
risks and uncertainties, including with respect to
consummating the proposed acquisition and any competing offers
or acquisition proposals for POINT, drug research, development and
commercialization, Lilly's evaluation of the accounting
treatment of the potential acquisition and its potential impact on
its financial results and financial guidance, uncertainties as to
how many of POINT's stockholders will tender their stock in the
tender offer, the effects of the proposed acquisition (or the
announcement thereof) on POINT's stock price, relationships with
key third parties or governmental entities, transaction costs,
risks that the proposed acquisition disrupts current plans and
operations or adversely affects employee retention, potentially
diverting management's attention from POINT's ongoing business
operations, changes in POINT's business during the period between
announcement and closing of the proposed acquisition, and any legal
proceedings that have been or may be instituted related to the
proposed acquisition. Actual results could differ materially due to
various factors, risks and uncertainties. Among other things,
there can be no guarantee that the proposed acquisition will be
completed in the anticipated timeframe or at all, that the
conditions required to complete the proposed acquisition will be
met, that any event, change or other circumstance that could give
rise to the termination of the definitive agreement for the
proposed acquisition will not occur, that Lilly will
realize the expected benefits of the proposed acquisition, that
product candidates will be approved on anticipated timelines or at
all, that any products, if approved, will be commercially
successful, that Lilly's financial results will be consistent
with its expected 2023 guidance or that Lilly can
reliably predict the impact of the proposed acquisition on its
financial results or financial guidance. For further
discussion of these and other risks and uncertainties,
see Lilly's and POINT's most recent Form 10-K and Form 10-Q
filings with the United States Securities and Exchange
Commission (the "SEC"). Except as required by law, neither
Lilly nor POINT undertakes any duty to update forward-looking
statements to reflect events after the date of this press
release.
Additional Information about the Acquisition and Where to
Find It
In connection with the proposed acquisition of
POINT, Lilly caused its acquisition subsidiary to commence a tender
offer for all of the issued and outstanding shares of common stock
of POINT. This communication is for informational purposes only and
is neither an offer to purchase nor a solicitation of an offer to
sell any securities, nor is it a substitute for the tender offer
materials that Lilly and its acquisition subsidiary filed with the
SEC upon commencement of the tender offer. A solicitation and offer
to buy outstanding shares of POINT is being made only pursuant to
the tender offer materials that Lilly and its acquisition
subsidiary have filed with the SEC. Lilly and its acquisition
subsidiary have filed with the SEC a tender offer statement on
Schedule TO, and POINT has filed a Solicitation/Recommendation
Statement on Schedule 14D-9 with the SEC with respect to the tender
offer. THE TENDER OFFER MATERIALS (INCLUDING AN OFFER TO PURCHASE,
A RELATED LETTER OF TRANSMITTAL AND CERTAIN OTHER TENDER OFFER
DOCUMENTS) AND THE SOLICITATION/RECOMMENDATION STATEMENT CONTAIN
IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION AND THE
PARTIES THERETO. INVESTORS AND STOCKHOLDERS OF POINT ARE URGED TO
READ THESE DOCUMENTS CAREFULLY (AS EACH MAY BE AMENDED OR
SUPPLEMENTED FROM TIME TO TIME) BECAUSE THEY CONTAIN IMPORTANT
INFORMATION THAT INVESTORS AND STOCKHOLDERS OF POINT SHOULD
CONSIDER BEFORE MAKING ANY DECISION REGARDING TENDERING THEIR
SHARES OF COMMON STOCK IN THE TENDER OFFER. The tender offer
materials (including the Offer to Purchase and the related Letter
of Transmittal) are available to all stockholders of POINT at no
expense to them at Lilly's website at investor.lilly.com. The
information contained in, or that can be accessed through, Lilly's
website is not a part of, or incorporated by reference in, this
press release. The tender offer materials (including the Offer to
Purchase and the related Letter of Transmittal), as well as the
Solicitation/Recommendation Statement, are also available for free
on the SEC's website at www.sec.gov. In
addition to the Offer to Purchase, the related Letter of
Transmittal and certain other tender offer documents, as well as
the Solicitation/Recommendation Statement, Lilly and
POINT file annual, quarterly, and current reports, proxy statements
and other information with the SEC. You may read any reports,
statements or other information filed by Lilly and POINT
with the SEC for free on the SEC's website at www.sec.gov.
Refer
to:
|
Jordan
Bishop; jordan.bishop@lilly.com; 317-473-5712
(Media)
|
|
Joe
Fletcher; jfletcher@lilly.com; 317-296-2884
(Investors)
|
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SOURCE Eli Lilly and Company