RepliCel Life Sciences Inc (TSXV:RP)
RepliCel is a regenerative medicine company developing autologous cell therapies that address diseases caused by a deficit of healthy cells required for normal healing and function.
It took almost a year, but AbbVie (NYSE:ABBV) has finally completed its acquisition of Botox maker Allergan (NYSE:AGN).
Under the terms of the tie-up, Allergan stockholders received 0.8660 of an AbbVie share plus $120.30 in cash for each share owned.
Allergan shares ceased trading on the NYSE at the close today.
The FDA has signed off on the emergency use of a laboratory-developed test (LDT) at Rutgers Clinical Genomics Laboratory that detects the presence of the SARS-CoV-2 virus in saliva, its first nod for a molecular test of this type.
Patients can self-collect specimens at home using Salt Lake City, UT-based Spectrum Solutions LLC’s Spectrum DNA SDNA-1000 Saliva Collection Device.
Selected tickers: Abbott (ABT +0.4%), Roche (OTCQX:RHHBY +0.7%), Thermo Fisher Scientific (TMO -1.2%), LabCorp (LH +3.3%), Quest Diagnostics (DGX +3.7%), Co-Diagnostics (CODX +3.1%), Becton, Dickinson (BDX +0.3%)
Aphria (APHA -6.6%) announces that it has reduced its debt and slashed its annual cash interest expenses by C$6.7M ($4.8M) via privately negotiated agreements with holders of its convertible senior notes.
Specifically, it has agreed to repurchase ~C$127.5M ($90.8M) of the notes at a 25% discount by issuing ~18.7M common shares at a 31% premium to its most recent closing price (conversion price of US$4.84) and paying ~C$2.9M ($2.1M) in cash for accrued and unpaid interest.
The issuance represents a 7.2% dilution to current stockholders (18.7M/258M).
Ventas (NYSE:VTR) gets $100M, consisting of $34M in cash and $66M in secured notes as it enters a new management agreement with Holiday Retirement and terminates the Holiday Lease.
The agreements pertain to Ventas’s 26 independent living assets that were previously leased by the company to Holiday tenants under a master lease.
The notes from the prior guarantor of the Holiday Lease and certain Holiday affiliates mature in five years and bear interest at a blended rate of 9% per year.
Under the new management agreement of the 26 Holiday Communities, Ventas will pay Holiday a management fee equal to 5% of gross revenue. The management agreement is terminable by Ventas without penalty upon thirty days’ notice.
Holiday fully paid all rent due under the Holiday Lease from inception in 2013 through March 2020, with Q1 2020 cash rent totaling $15M.
In Q2 2020, Ventas expects to recognize income reflecting receipt of the cash payment and the notes, partially offset by a non-cash expense of $50M from the write-off of the non-cash accrued straight-line receivable under the Holiday Lease. These amounts will all be excluded from the Park’s reported normalized FFO.
Carlyle Group (CG +1.6%) agrees to acquire an equity stake in SeQuent Scientific, the largest pure-play animal healthcare company in India.
Carlyle announced that CA Harbor Investments, an affiliated entity of CAP V Mauritius Ltd and Carlyle Group, proposes to acquire an equity stake of up to 74% in SeQuent through private share purchase agreements for a purchase price of INR 86 ($1.14) per share.
That would trigger a mandatory open offer for the purchase of the rest of the shares from public shareholders.
Sees deal closing in Q3 2020.
