Crown Laboratories, Inc. announced on Monday that it has amended and restated its agreement to purchase all outstanding shares of Revance Therapeutics, Inc. (RVNC) at a price of $3.10 per share in cash.
This updated arrangement arises amidst several developments concerning Revance, including its settlement with Teoxane regarding an alleged breach of a distribution agreement, its outlook as an independent entity, and its recent commercial performance compared to previous financial projections for 2024.
The transaction is anticipated to be finalized in the first quarter of 2025, following which Revance's shares will be removed from the Nasdaq listing.
At present, Revance’s stock is experiencing a decline, dropping 20.39 percent to $3.04 on the Nasdaq.
