ANI Pharmaceuticals announces cash offer to acquire Egetis Therapeutics
ANI disclosed a $676 million bridge facility and a recommended public cash offer for Swedish drugmaker Egetis valued at roughly $559.9 million.
On November 4, 2026, ANI Pharmaceuticals entered into a credit agreement for a 364-day senior bridge facility with lenders named therein and JPMorgan Chase Bank, N.A. as administrative agent1. The facility provides for borrowings up to an aggregate principal amount of $676 million and matures 364 days after the initial day of funding.1
The credit agreement was entered into in connection with the company's recommended public cash offer for all of the outstanding shares, the convertible loan 2023:1 and the warrants 2023/2033:1 issued by Egetis Therapeutics AB (publ), a public limited liability company organized under the laws of Sweden.1
On November 5, 2026, ANI issued press releases announcing the offer. The company is offering SEK 11.25 in cash for each share of Egetis, SEK 65,750,817 in cash for the EUR 3 million principal amount of the convertible and SEK 6.99 in cash per warrant, representing a total value of approximately SEK 5.6 billion or approximately $559.9 million, calculated using a 30 trading day average USD to SEK exchange rate of 9.9471 as of November 3, 2026.1
The Board of Directors of Egetis has unanimously recommended that shareholders and holders of the convertible and warrants accept the offer, and Egetis shareholders representing approximately 42.2% of outstanding shares have provided irrevocable undertakings to accept.1
Completion of the offer is subject to customary closing conditions under Swedish Takeover Rules, including a minimum tender condition requiring holders of at least 90% of outstanding Egetis shares on a fully-diluted basis to tender, plus regulatory and foreign direct investment clearances.1
If ANI becomes owner of more than 90% of outstanding Egetis shares on a fully diluted basis, excluding 25,863,043 Class C shares held by Egetis, it intends to pursue compulsory redemption and delisting from Nasdaq Stockholm.1 The irrevocable undertakings will terminate if the offer is not declared unconditional by March 31, 2027, or is withdrawn or lapses.1
Written by readthrough’s AI from the linked primary sources and fact-checked against them automatically before publishing. Not investment advice.