SECsense Logo

Pharming Group N.V. Acquires 92.7% of Abliva AB: Key Insights from Form 6-K Report

$PHAR
Form 6-K
Filed on: 2025-02-20
Source
Pharming Group N.V. Acquires 92.7% of Abliva AB: Key Insights from Form 6-K Report

Here are the key insights extracted from the provided financial report (Form 6-K) regarding Pharming Technologies B.V.’s acquisition of Abliva AB:

  1. Company and Filing Information:
  • Registrant: Pharming Group N.V.
  • Filing Type: Form 6-K, a report of a foreign private issuer.
  • Filing Date: February 20, 2025.
  • Location: Leiden, The Netherlands.
  1. Acquisition Details:
  • Pharming Technologies B.V., a subsidiary of Pharming Group N.V., has increased its ownership stake in Abliva AB (publ) to 92.70%.
  • The acquisition was part of a cash offer to Abliva shareholders at a price of SEK 0.45 per share, initially announced on December 15, 2024.
  • The offer was declared unconditional on February 7, 2025, and the acceptance period was extended to February 20, 2025.
  1. Shareholder Participation:
  • As of February 7, 2025, shareholders accepted the offer for 1,413,841,472 shares, representing 87.71% of the total shares and votes in Abliva.
  • During the extended acceptance period, an additional 47,327,703 shares were tendered, accounting for 2.94%.
  • Pharming acquired 33,012,450 shares outside the offer after the initial acceptance period, increasing their total to 1,494,181,625 shares.
  1. Next Steps:
  • To facilitate the acquisition of remaining shares, Pharming extended the acceptance period until March 6, 2025, with expected settlement around March 12, 2025.
  • Pharming plans to initiate a compulsory acquisition procedure for the remaining shares under Swedish law and aims to delist Abliva shares from Nasdaq Stockholm.
  1. Advisors:
  • Financial advisor: Van Lanschot Kempen N.V.
  • Legal advisors: NautaDutilh N.V. and Mannheimer Swartling Advokatbyrå.
  1. Risks and Considerations:
  • The press release includes forward-looking statements and cautions that actual results could differ due to various factors.
  • It also emphasizes that shareholders should consider the tax implications of the transaction, particularly U.S. holders.

This information highlights significant corporate activity involving a strategic acquisition that consolidates Pharming's control over Abliva, potentially enhancing its market position in the biopharmaceutical sector.