No Shareholder Action Required at This
Time
WASHINGTON, May 7, 2024
/PRNewswire/ -- Vanda Pharmaceuticals Inc. ("Vanda" or the
"Company") (Nasdaq: VNDA) today confirmed that it has received a
revised unsolicited proposal from Future Pak, LLC ("Future Pak") to
acquire the Company. The revised proposal consists of a
$7.25 to $7.75 per share in cash plus certain Contingent
Value Rights ("CVRs"). The amended proposal follows Vanda's review
and rejection of a prior unsolicited proposal from Future Pak to
acquire the Company for $7.25-$7.75 per
share.
Consistent with its fiduciary duties, and in consultation with
its independent financial and legal advisors, Vanda's Board of
Directors will carefully review and evaluate the revised
unsolicited proposal to determine the course of action that it
believes is in the best interests of Vanda and its
shareholders.
Vanda does not intend to comment further on the revised,
unsolicited proposal before the Board has completed its review.
There is no action for shareholders to take at this time.
About Vanda Pharmaceuticals Inc.
Vanda is a
leading global biopharmaceutical company focused on the development
and commercialization of innovative therapies to address high unmet
medical needs and improve the lives of patients. For more on Vanda
Pharmaceuticals Inc., please visit www.vandapharma.com and follow
us on X @vandapharma.
Vanda Corporate Contact:
Kevin Moran
Senior Vice President, Chief Financial Officer and Treasurer Vanda
Pharmaceuticals Inc.
202-734-3400
pr@vandapharma.com
Jim Golden / Jack Kelleher / Dan
Moore
Collected Strategies
VANDA-CS@collectedstrategies.com
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SOURCE Vanda Pharmaceuticals Inc.