Crown Laboratories And Revance Amend The A&R Merger Agreement To Increase Offer Price To $3.65 Per Share, A $0.55 Per Share Increase And Extend Existing Tender Offer

Author: Benzinga Newsdesk | January 21, 2025 08:06am

• Increased offer price to $3.65 per share, a $0.55 per share increase
• Improved offer unanimously approved by Revance Board of Directors
• Crown to extend tender offer until 11:59 p.m., Eastern Time, on February 4, 2025
• Crown's offer is the only fully-financed offer currently available to Revance's stockholders
• Outside termination date under the A&R Merger Agreement is February 7, 2025

Crown Laboratories, Inc. ("Crown") and Revance Therapeutics, Inc. (NASDAQ:RVNC) ("Revance"), today announced that, on January 17, 2025, they amended their previously announced Amended and Restated Merger Agreement (the "Second Amendment," together with the Amended and Restated Merger Agreement, dated December 7, 2024, the "A&R Merger Agreement").

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250121493847/en/

Under the terms of the Second Amendment, which has been unanimously approved by the Revance Board of Directors, Revance's stockholders will receive $3.65 per share of common stock, par value $0.001 per share (each, a "Share") in cash, without interest and less any applicable tax withholding, representing $0.55 or 17% per share more than the prior offer price. Crown will extend its existing tender offer for all of Revance's outstanding Shares until one minute past 11:59 p.m., Eastern Time, on February 4, 2025.

Posted In: RVNC