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IGM Biosciences to be Acquired by Concentra Biosciences for $1.247 per Share.
ByAinvest
Tuesday, Jul 1, 2025 9:24 am ET1min read
IGM Biosciences has entered into a merger agreement with Concentra Biosciences, where Concentra will acquire IGM Biosciences for $1.247 in cash per share plus a contingent value right. The CVR represents the right to receive excess closing net cash and 80% of any net proceeds from the disposition of certain assets within one year.
Mountain View, Calif., June 19, 2025 — Biotechnology company IGM Biosciences, Inc. (Nasdaq: IGMS) has entered into a definitive merger agreement to be acquired by Concentra Biosciences, LLC. Under the terms of the agreement, Concentra will acquire IGM Biosciences for $1.247 in cash per share, plus a contingent value right (CVR). The CVR entitles shareholders to receive 100% of IGM Biosciences' closing net cash exceeding $82 million and 80% of any net proceeds from the disposition of certain product candidates and intellectual property within one year following the closing [1].The IGM Biosciences Board of Directors has unanimously approved the acquisition, determining it to be in the best interests of all stockholders. Concentra will commence a tender offer by July 16, 2025, to acquire all outstanding shares of IGM common stock. Closing of the offer is subject to customary conditions, including the tender of voting common stock representing at least a majority of outstanding shares and the availability of at least $82 million in cash at closing. The merger is expected to close in August 2025 [1].
IGM Biosciences has focused on developing engineered IgM-based therapeutic antibodies. Wilson Sonsini Goodrich & Rosati is serving as legal counsel to IGM Biosciences, while Gibson, Dunn & Crutcher is acting as legal counsel to Concentra [1].
The stock of IGM Biosciences surged 20% following the announcement of the acquisition deal, reflecting investor optimism about the transaction [2].
References:
[1] https://www.globenewswire.com/news-release/2025/07/01/3108348/0/en/IGM-Biosciences-Enters-into-Agreement-to-Be-Acquired-by-Concentra-Biosciences-for-1-247-in-Cash-per-Share-Plus-a-Contingent-Value-Right.html
[2] https://www.investing.com/news/stock-market-news/igm-biosciences-stock-soars-after-concentra-acquisition-deal-93CH-4119463
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