IGM Biosciences, Inc. has announced that it has entered into a definitive merger agreement with Concentra Biosciences, LLC. Under the terms of the agreement, Concentra will acquire IGM Biosciences for $1.247 in cash per share, along with a non-tradeable contingent value right $(CVR)$. This CVR entitles holders to receive 100% of any closing net cash exceeding $82.0 million, and 80% of net proceeds from certain dispositions of IGM Biosciences' product candidates and intellectual property within one year post-closing. The transaction, which has received unanimous approval from the IGM Biosciences Board of Directors, is expected to close in August 2025 following a tender offer scheduled by July 16, 2025.
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