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Tetraphase Pharma 8-K Shows Co. Received Unsolicited Proposal From Melinta Therapeutics To Buy Co. For $27M In Cash Plus Added $12.5M In Cash Payable Under Contingent Value Rights

Tetraphase common stock would be automatically converted into the right to receive (1) a number of shares of the Parent's common stock equal to 0.6303 (the "Exchange Ratio"); provided that if the Company's closing net cash (the "Closing Net Cash") is less than

Benzinga · 05/15/2020 10:41

Tetraphase common stock would be automatically converted into the right to receive (1) a number of shares of the Parent's common stock equal to 0.6303 (the "Exchange Ratio"); provided that if the Company's closing net cash (the "Closing Net Cash") is less than $5,000,000, the Exchange Ratio shall be adjusted to the ratio determined as follows: (a) (i) $20,000,000, minus (ii) the dollar amount by which the Closing Net Cash is less than $5,000,000, minus (iii) $10,265,292, divided by (b) (i) 10,800,166, divided by (ii) $1.43, and (2) one contingent value right per share representing the right to receive certain consideration based on the achievement of net sales milestones.