$APLS

Apellis Pharmaceuticals' CFO Timothy Sullivan reported changes to his equity awards following the company's acquisition by Biogen. His common shares, restricted stock units (RSUs), and stock options were converted into a cash payment of $41.00 per share plus one contingent value right (CVR) per share, with each CVR potentially paying up to $4.00, depending on specific milestones. The conversion details varied for different types of awards, with some RSUs continuing to vest over time and options with high exercise prices being cancelled without consideration.

Biogen has completed its acquisition of Apellis Pharmaceuticals (APLS) for $41 in cash plus a Contingent Value Right (CVR) that could add up to $4.00 per share. This transaction led to Apellis director Alec Machiels disposing of all his Apellis holdings, including direct shares and indirect holdings, as Apellis became a wholly owned subsidiary of Biogen. The deal provides upfront cash and potential future payments for Apellis shareholders based on specified milestones.

Biogen has finalized its acquisition of Apellis Pharmaceuticals for $41.00 per share in cash, plus one contingent value right (CVR) offering up to an additional $4.00 per share based on future milestones. The tender offer saw approximately 82.4% of Apellis's outstanding shares tendered, allowing Biogen to complete the merger and subsequently delist Apellis's stock from Nasdaq. This transaction also impacts Apellis's convertible senior notes, providing noteholders with options for cash repurchase or conversion into cash and CVRs.

Apellis Pharmaceuticals has successfully concluded its tender offer, with approximately 82.4% of its outstanding shares tendered, allowing Biogen to proceed with the acquisition. The merger is expected to close on May 14, 2026, without a stockholder vote, and Apellis will become a wholly-owned subsidiary of Biogen, leading to its delisting from Nasdaq. Shareholders will receive $41.00 per share in cash plus a contingent value right up to $4.00 per share.

Apellis Pharmaceuticals has announced that the Hart-Scott-Rodino (HSR) waiting period for its tender offer and merger has expired as of May 11, 2026, satisfying a key regulatory condition. This paves the way for the acquisition by a Biogen subsidiary, which proposes $41.00 per share in cash plus a non-transferable contingent value right (CVR) for up to $4.00 in additional cash based on milestone achievements. The expiration removes an antitrust obstacle, but final closing depends on other conditions.

This SEC filing (Form SC TO-T/A) is an amendment to a tender offer statement by Biogen Inc. for all outstanding shares of Apellis Pharmaceuticals, Inc. The amendment provides updates on financial advisory services and discloses additional lawsuits and demand letters from purported stockholders alleging disclosure deficiencies related to the proposed transactions. Biogen and Apellis maintain that the allegations are without merit and disclosures comply with applicable law.

Apellis Pharmaceuticals' board of directors has unanimously recommended stockholders accept Biogen's tender offer to acquire all outstanding common shares for $41.00 per share in cash, plus a contingent value right (CVR) that can pay up to an additional $4.00 per share based on SYFOVRE® net sales milestones. Key figures include 128 million shares outstanding and an estimated $49.1 million golden parachute for CEO Cedric Francois. The acquisition will be structured as a tender offer, followed by a Section 251(h) merger, with the offer set to expire on May 13, 2026.

Canaccord has increased its price target for Biogen Inc. (NASDAQ:BIIB) shares to $245 from $230, maintaining a Buy rating after Biogen announced the acquisition of Apellis Pharmaceuticals. This acquisition, valued at $5.6 billion, is expected to add significant value to Biogen's revenue, bringing in two commercial products and expanding its portfolio into rare kidney diseases and ophthalmology. Analysts from multiple firms have weighed in, mostly reiterating positive ratings and highlighting the strategic shift for Biogen.

Apellis Pharmaceuticals' stock is skyrocketing after Biogen announced its intent to acquire the company for $41 per share in cash, totaling approximately $5.6 billion. This acquisition is expected to bolster Biogen's immunology and rare disease portfolio, particularly with Apellis's FDA-approved therapies Empaveli and Syfovre, which generated $689 million in combined net sales in 2025. The deal includes a contingent value right for Apellis shareholders and is projected to enhance Biogen's revenue and adjusted earnings per share starting in 2027.

Shares of Apellis Pharmaceuticals Inc. (APLS) skyrocketed 140% in pre-market trading after Biogen Inc. (BIIB) announced its agreement to acquire Apellis in a $5.6 billion deal. Biogen stated that this acquisition will enhance its rare-disease treatment portfolio and accelerate its expansion into nephrology. Retail sentiment on Stocktwits was bullish, with high message volumes following the news.