SAN RAFAEL, Calif., Jan. 15, 2015 (GLOBE NEWSWIRE) — BioMarin Pharmaceutical Inc. (Nasdaq:BMRN) announced today that it completed the initial offering period for the previously announced tender offer for all of the outstanding ordinary shares of Prosensa Holding N.V. (Nasdaq:RNA). As a result, BioMarin will purchase approximately 93.4% of Prosensa’s outstanding shares pursuant to the initial offering period for the tender offer. BioMarin also announced that it has commenced a subsequent offering period to provide Prosensa shareholders who have not yet tendered their shares the opportunity to do so. The subsequent offering period is scheduled to expire at 6:00 p.m., New York City time, on January 29, 2015.
About the Tender Offer
On December 12, 2014, BioMarin Falcons B.V. and BioMarin Giants B.V., each a subsidiary of BioMarin Pharmaceutical Inc., commenced a tender offer to acquire all of the outstanding ordinary shares of Prosensa Holding N.V. at a purchase price of $17.75 per share, net to the seller in cash, plus one non-transferrable contingent value right to receive cash payments of up to $4.14 per share in the aggregate upon the achievement of certain product approval milestones, in each case, without interest thereon and less any applicable withholding taxes. The initial offering period for the tender offer and withdrawal rights expired at 6:00 p.m., New York City time, yesterday. Based on information provided by the depositary for the offer, a total of 33,746,104 shares, representing approximately 93.4% of the aggregate number of shares outstanding, had been validly tendered and had not been validly withdrawn as of the initial expiration of the offer (excluding shares tendered pursuant to notices of guaranteed delivery procedures that had not yet been delivered in satisfaction of such guarantee). BioMarin Falcons B.V. and BioMarin Giants B.V. have accepted for payment all shares that were validly tendered and were not validly withdrawn from the offer, and payment for such shares will be made promptly in accordance with the terms of the offer. 933,445 additional shares are guaranteed to be delivered within two NASDAQ trading days pursuant to the guaranteed delivery procedures described in the offer, which, if added to the shares already validly tendered, would represent approximately 96.0% of the shares outstanding.
BioMarin Falcons B.V. and BioMarin Giants B.V. also announced today the commencement of a subsequent offering period scheduled to expire at 6:00 p.m., New York City time, on January 29, 2015. All shares properly tendered during the subsequent offering period will be immediately accepted for payment, and tendering holders will thereafter promptly be paid the same form and amount of offer consideration as in the initial offering period. The procedures for tendering shares during the subsequent offering period are the same as those applicable to the initial offering period, except that (i) the guaranteed delivery procedures may not be used during the subsequent offering period and (ii) no withdrawal rights will apply to shares tendered during the subsequent offering period.
