Freeline Therapeutics (FRLN) is set to be acquired by Syncona Ltd. The transaction is expected to be closed in the first quarter of 2024. Shares rise.
Freeline shareholders to receive $6.50 per American Depositary Share, a 51% premium over closing price prior to announcement of Syncona’s initial proposal on October 18, in an all-cash transaction Based on extensive evaluation of available strategic and financing options, Freeline’s independent directors unanimously recommend transaction as best value for shareholders Syncona to provide $15 million in convertible debt financing to cover Freeline’s near-term capital needs and support ongoing adva