Revance’s board urges stockholders to vote in favor of Crown’s acquisition offer

Revance (RVNC) and Crown Laboratories reminded Revance stockholders of the recommendation to tender their shares in support of Crown’s cash tender offer to acquire all of the issued and outstanding shares of common stock, par value 0.1c per share of Revance, at a price of $3.65 per Share in cash before the expiry of the tender offer at one minute past 11:59 p.m., Eastern Time, on February 4, 2025. The Crown tender offer of $3.65 per share in cash, which has been unanimously recommended by Revance’s board, is the only offer available to Revance stockholders. Teoxane has withdrawn its non-binding proposal to acquire Revance and intends to tender all of its Shares, representing a 6.2% stake, in the tender offer. Revance stockholders must tender by the February 4 deadline for the transaction to close. Crown does not intend to extend the outside termination date of the A&R Merger Agreement. Subject to customary closing conditions, including the tender of more than 50% of the Shares into the tender offer, the transaction is expected to close by February 6.