JOHNSON
CITY, Tenn., Jan. 13,
2025 /PRNewswire/ -- Crown Laboratories, Inc.
("Crown"), a privately held, global innovative leader in the
skincare industry, today announced that, at the request of Revance
Therapeutics, Inc., ("Revance") (Nasdaq: RVNC), it has extended the
expiration of its cash tender offer to acquire all of the issued
and outstanding shares of common stock, par value $0.001 per share ("Shares") of Revance, at a
price of $3.10 per Share in cash,
without interest and less any applicable tax withholding.
The tender offer, which was previously scheduled to expire one
minute past 11:59 p.m., Eastern time,
on January 13, 2025, has been
extended until one minute past 11:59 p.m.,
Eastern time, on January 28,
2025, unless the tender offer is further extended or earlier
terminated. The proposed acquisition is expected to close in the
first quarter of 2025, subject to customary closing conditions,
including the tender of at least a majority of the outstanding
Shares as of the expiration of the tender offer.
Computershare Trust Company, N.A., the depositary and paying
agent for the tender offer, has advised Crown that, as of
4:00 p.m., Eastern time, on
January 10, 2025, approximately
4,167,526 Shares have been validly tendered and not properly
withdrawn in the tender offer, representing approximately 3.97% of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.
About Crown Laboratories
Crown, a privately held, fully integrated global skincare
company, is committed to developing and providing a diverse
portfolio of aesthetic, premium and therapeutic skincare products
that improve the quality of life for its consumers throughout their
skincare journey. An innovative company focused on skin science for
life, Crown's unyielding pursuit of delivering therapeutic
excellence and enhanced patient outcomes is why it has become a
leader in Dermatology and Aesthetics. Crown has been listed on the
Inc. 5000 Fastest Growing Privately Held Companies List for 11
years and has expanded its distribution to over 50 countries. For
more information, visit www.crownlaboratories.com.
The "Crown" logo, PanOxyl and Blue Lizard are registered
trademarks of Crown Laboratories, Inc. SkinPen and StriVectin are
registered trademarks of Bellus Medical, LLC and StriVectin
Operating Company, Inc., respectively.
Additional Information and Where to Find It
In connection with its proposed acquisition of Revance, Crown
caused its acquisition subsidiary to commence a tender offer to
acquire all outstanding Shares of Revance. This communication is
for informational purposes only and is not an offer to buy nor a
solicitation of an offer to sell any securities of Revance, nor is
it a substitute for the tender offer materials that Crown and its
acquisition subsidiary filed with the Securities and Exchange
Commission ("SEC") upon commencement of the tender offer. A
solicitation and offer to buy all outstanding Shares of
Revance is only being made pursuant to the tender offer
statement on Schedule TO, including an offer to purchase, a letter
of transmittal and other related materials that Crown and its
acquisition subsidiary have filed with the SEC. In addition,
Revance has filed with the SEC a Solicitation/Recommendation
Statement on Schedule 14D-9 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 REVANCE 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 REVANCE SHOULD
CONSIDER BEFORE MAKING ANY DECISION REGARDING TENDERING THEIR
SHARES OF COMMON STOCK IN THE TENDER OFFER.
Investors may obtain a free copy of these materials (including
the tender offer statement, Offer to Purchase and a related Letter
of Transmittal, as well as the Solicitation/Recommendation
Statement) and other documents filed by Crown and Revance with the
SEC at the website maintained by the SEC at www.sec.gov. Investors
may also obtain, at no charge, any such documents filed with or
furnished to the SEC by Revance under the "News" section of
Revance's website at www.revance.com. The information contained in,
or that can be accessed through, Revance's or Crown's website is
not a part of, or incorporated by reference herein.
Forward-Looking Statements
Certain statements contained in this press release are
"forward-looking statements." The use of words such as
"anticipates," "hopes," "may," "should," "intends," "projects,"
"estimates," "expects," "plans" and "believes," among others,
generally identify forward-looking statements. All statements,
other than statements of historical fact, are forward-looking
statements. These forward-looking statements include, among others,
statements relating to Revance's and Crown's future financial
performance, business prospects and strategy, expectations with
respect to the tender offer and the anticipated merger, including
the timing thereof and Revance's and Crown's ability to
successfully complete such transactions and realize the anticipated
benefits. Actual results could differ materially from those
contained in these forward-looking statements for a variety of
reasons, including, among others, the risks and uncertainties
inherent in the tender offer and the anticipated merger, including,
among other things, regarding how many of Revance's stockholders
will tender their Shares in the tender offer, the possibility that
competing offers will be made, the ability to obtain requisite
regulatory approvals, the ability to satisfy the conditions to the
closing of the tender offer and the anticipated merger, the
expected timing of the tender offer and the anticipated merger, the
possibility that the anticipated merger will not be completed,
difficulties or unanticipated expenses in connection with
integrating the parties' operations, products and employees and the
possibility that anticipated synergies and other anticipated
benefits of the transaction will not be realized in the amounts
expected, within the expected timeframe or at all, the effect of
the tender offer and the anticipated merger on Revance's and
Crown's business relationships (including, without limitations,
partners and customers), the occurrence of any event, change or
other circumstances that could give rise to the termination of the
Merger Agreement, the expected tax treatment of the transaction,
and the impact of the transaction on the businesses of Revance and
Crown, and other circumstances beyond Revance's and Crown's
control. You should not place undue reliance on these
forward-looking statements. Certain of these and other risks and
uncertainties are discussed in Revance's and Crown's filings with
the SEC, including the Schedule TO (including the offer to
purchase, a related letter of transmittal and related documents)
Crown and its acquisition subsidiary have filed with the SEC, and
the Solicitation/Recommendation Statement on Schedule 14D-9 the
Company has filed with the SEC, and Revance's most recent Form 10-K
and Form 10-Q filings with the SEC. Except as required by law,
neither Revance nor Crown undertakes any duty to update
forward-looking statements to reflect events after the date of this
press release.
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SOURCE Crown Laboratories, Inc.