(RTTNews) – Keros Therapeutics, Inc. (KROS), a clinical-stage biopharmaceutical company, on Wednesday announced that it has entered into share purchase agreements to buy back all shares held by ADAR1 Capital Management LLC and Pontifax Venture Capital for $17.75 per share in cash.
The transactions are expected to close on October 15.
The repurchase, totaling about $181 million, is part of the company’s previously announced $375 million capital return program and will be funded from existing cash and cash equivalents.
Following completion, the company plans to launch a tender offer for up to $194 million of its common stock, also priced at $17.75 per share, expected to begin by the end of October 2025.
The company also announced that it will distribute 25% of any net cash proceeds received from its global license agreement with Takeda Pharmaceuticals U.S.A., Inc., Takeda Pharmaceutical Company Ltd. (TAK) on or before December 31, 2028, to shareholders.
In the pre-market trading, Keros Therapeutics 5.70% higher at $15.95 on the Nasdaq.
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