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Societal CDMO (SCTL) has provided an update.
Amid a significant merger, a company has settled all its debts under various agreements and plans, including a credit agreement, a subordinated promissory note, and equity incentive plans. Additionally, the company completed a tender offer for its common stock at $1.10 per share, with nearly 93% of shares tendered, meeting the minimum condition for the merger. The merger resulted in the company becoming a wholly-owned subsidiary, with each share converted into a cash right equal to the offer price, and certain warrants and options were either exercised, vested, or cancelled accordingly. The company also took steps to halt trading, delist its shares from Nasdaq, and end its SEC registration and reporting obligations.
For detailed information about SCTL stock, go to TipRanks’ Stock Analysis page.
