Apellis Pharmaceuticals, Inc. (APLS) — Current Report

Key Insights

• Apellis Pharmaceuticals, Inc. has agreed to be acquired by Biogen Inc. for $41.00 per share in cash, plus a contingent value right (CVR) of up to $4.00 per share upon the achievement of certain milestones.
• The transaction is subject to customary closing conditions, including a minimum tender of over 50% of Apellis' outstanding shares and regulatory approvals.
• The proposed acquisition represents a significant premium of approximately 35% over Apellis' closing stock price on the last trading day prior to the announcement.