Atea Pharmaceuticals Confirms Receipt of Unsolicited Proposal from Tang Capital Partners’ Affiliate, Concentra Biosciences
BOSTON, May 23, 2023 (GLOBE NEWSWIRE) — Atea Pharmaceuticals, Inc. (Nasdaq:AVIR) (“Atea”) confirmed that it has received an unsolicited proposal from Tang Capital, LP on behalf of Concentra Biosciences LLC to acquire all outstanding common shares of Atea for $5.75 per share in cash, plus a contingent value right (“CVR”) representing the right to receive 80% of the net proceeds payable from any license or disposition of Atea’s programs.
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