BRISBANE, Calif., April 08, 2016 (GLOBE NEWSWIRE) -- CareDx, Inc.’s (NASDAQ:CDNA) offer to the shareholders of Allenex AB (publ) has been accepted by shareholders holding an aggregate of 118,207,862 shares, corresponding to approximately 98.3% of the total number of shares in Allenex. CareDx declares the offer unconditional and completes the offer. The settlement is expected to occur on or around April 13, 2016.
“We at CareDx are pleased with the high acceptance by Allenex shareholders,” said Peter Maag, President and Chief Executive Officer of CareDx. “The combination of our 2 organizations creates a unique diagnostics company that focuses on patient outcomes along the pre-to-post transplant continuum.”
On December 16, 2015, CareDx, Inc. announced a recommended public offer to the shareholders of Allenex to tender all their shares in Allenex to CareDx. On February 9, 2016, CareDx announced that the common stock component of the share based consideration alternatives had been revised. An offer document regarding the Offer was made public on March 7, 2016 and the acceptance period commenced on March 8, 2016. On March 29, 2016, the acceptance period was extended by five days to April 5, 2016 and on March 30, 2016, CareDx published a supplement to the Offer Document, whereby Allenex shareholders were, in accordance with Nasdaq Stockholm’s takeover rules, given the right to withdraw submitted acceptances by April 6, 2016.
As of April 6, 2016, shareholders in Allenex holding an aggregate of 118,207,862 shares, corresponding to approximately 98.3 percent of the total number of outstanding shares in Allenex, had accepted the Offer without withdrawing their acceptances. The Allenex majority shareholders Midroc Invest AB, FastPartner AB and Xenella Holding AB have tendered all their shares under the Deferred Consideration Alternative (as defined in the Offer Document). 569,363 shares have been tendered under the Mixed Consideration Alternative and 23,898,587 shares have been tendered under the All Cash Alternative, both of which are defined in the Offer Document.
All conditions for completion of the Offer as described in the Offer Document have been satisfied.
CareDx does not have any prior holdings in Allenex and has not acquired any shares in Allenex outside of the Offer. CareDx does not hold financial instruments which give CareDx any financial exposure equivalent to a shareholding in Allenex.
CareDx does not extend the acceptance period and intends to initiate compulsory acquisition proceedings for the remaining shares in Allenex in accordance with the Swedish Companies Act and, in connection with such proceedings, will promote a de-listing of the Allenex shares from Nasdaq Stockholm.
CareDx, Inc., based in Brisbane, California, is a molecular diagnostics company focused on the discovery, development and commercialization of clinically differentiated, high-value diagnostic surveillance solutions for transplant patients. The company has commercialized AlloMap®, a gene expression test that aids clinicians in identifying heart transplant patients with stable graft function who have a low probability of moderate/severe acute cellular rejection. CareDx is also pursuing the development of additional products for transplant monitoring using a variety of technologies, including AlloSureTM, its next-generation sequencing–based test to detect donor-derived cell-free DNA after transplantation. For more information, please visit: www.CareDx.com.
Forward Looking Statements
In addition to the historical information, this press release contains forward-looking statements with respect to our business, research, development and commercialization efforts and anticipated future financial results. These forward-looking statements are based upon information that is currently available to us and our current expectations, speak only as of the date hereof, and are subject to numerous risks and uncertainties, including risks related to our ability to complete the acquisition or realize the anticipate benefits of the transaction. These factors, together with those that are described in our filings with the SEC, including the Annual Report on Form 10-K for the fiscal year ended December 31, 2015 filed by us with the SEC on March 29, 2016, may cause our actual results, performance or achievements to differ materially and adversely from those anticipated or implied by our forward-looking statements. We expressly disclaim any obligation, except as required by law, or undertaking to update or revise any such forward-looking statements. Our results for the most recent reporting period are not necessarily indicative of our operating results for any future periods.
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