Cases
Tetraphase Pharmaceuticals, Inc.
Merger
Overview
Overview
- Date:
- 3/16/2020
- Case Caption:
- Kopczynski v. Tetraphase Pharmaceuticals, Inc., et al.
- Stock Symbol:
- TTPH
- Company Name - Buyer:
- AcelRx Pharmaceuticals, Inc.
- Stock Symbol - Buyer:
- ACRX
- Status:
- Filed
- Merger Announcement Date:
- 3/16/2020
- Filing Date:
- 5/1/2020
- Court:
- U.S. District Court: Southern District of New York
On March 16, 2020, Tetraphase announced that it had signed an agreement to be acquired by AcelRx for approximately $14.4 million plus a contingent value right (CVR) worth up to $12.5 million if XERAVA reaches certain net sales milestones starting in 2021. Pursuant to the merger agreement, Tetraphase’s stockholders will receive 0.6303 shares of AcelRx common stock plus their share of the CVR for each share of Tetraphase common stock owned. The deal is scheduled to close in the second quarter of 2020.
Bragar Eagel & Squire is concerned that Tetraphase’s board of directors oversaw an unfair process and ultimately agreed to an inadequate deal price. Accordingly, the firm is investigating all relevant aspects of the deal and is committed to securing the best result possible for Tetraphase’s stockholders.
Bragar Eagel & Squire is concerned that Tetraphase’s board of directors oversaw an unfair process and ultimately agreed to an inadequate deal price. Accordingly, the firm is investigating all relevant aspects of the deal and is committed to securing the best result possible for Tetraphase’s stockholders.
Case Updates
Case Files
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Kopczynski v. Tetraphase Pharmaceuticals, Inc., et al.