Rain Therapeutics (RAIN) has released an update.
Rain Oncology Inc. entered into a Merger Agreement on December 13, 2023, with Pathos AI, Inc. and its subsidiary, WK Merger Sub, Inc., to be acquired through a cash tender offer for $1.16 per share and one contingent value right. The deal will result in Rain becoming a wholly owned subsidiary of Pathos AI. Despite receiving 15 demand letters alleging disclosure deficiencies, Rain contends that the existing disclosures are adequate but has chosen to provide supplemental information to preclude litigation and avoid delays to the merger.
For further insights into RAIN stock, check out TipRanks’ Stock Analysis page.
