ACORDA ANNOUNCES PRELIMINARY TENDER OFFER RESULTS AND ACCEPTANCE OF THE SECURITIES IN BIOTIE TENDERED IN TENDER OFFER
(Thomson Reuters ONE) -
BIOTIE THERAPIES CORP. STOCK EXCHANGE RELEASE 11 April 2016, at
5.00 pm (EET)
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO
CANADA, JAPAN, AUSTRALIA, SOUTH AFRICA, HONG KONG OR IN ANY OTHER JURISDICTION
IN WHICH THE TENDER OFFER WOULD BE PROHIBITED BY APPLICABLE LAW.
ACORDA THERAPEUTICS ANNOUNCES PRELIMINARY TENDER OFFER RESULTS AND ACCEPTANCE OF
THE SHARES, AMERICAN DEPOSITARY SHARES, STOCK OPTIONS, SHARE UNITS AND WARRANTS
IN BIOTIE THERAPIES CORP. TENDERED IN TENDER OFFER
As previously announced, on 11 March 2016, Acorda Therapeutics, Inc. (Nasdaq:
ACOR) ("Acorda" or the "Offeror") commenced a voluntary public tender offer to
purchase all of the issued and outstanding shares ("Shares"), American
Depositary Shares ("ADSs"), stock options ("Option Rights"), share units ("Share
Rights") and warrants ("Warrants") (such securities, collectively, the "Equity
Interests") in Biotie Therapies Corp (Nasdaq Helsinki: BTH1V; Nasdaq: BITI)
("Biotie" or the "Company") that are not owned by Biotie or any of its
subsidiaries (the "Tender Offer"). The Tender Offer expired on 8 April 2016.
Biotie has today been informed by Acorda that according to the preliminary
results of the Tender Offer, as of the expiration of the Tender Offer on 8 April
2016 at 4:00 p.m. (EET) / 9:00 am (New York Time), 656,398,583 Shares,
3,120,541 ADSs, 435,000 2011 Option Rights, 5,120,125 2014 Option Rights,
12,401,120 2016 Option Rights, 1,949,116 Swiss Option Rights, 25,000 2011 Share
Rights, 3,132,188 2014 Share Rights and 220,400,001 Warrants have been tendered
in the Tender Offer, representing approximately 93.77 percent of all the shares
and votes in Biotie on a fully-diluted basis as defined in the terms and
conditions of the Tender Offer.
The Shares and ADSs tendered in the Tender Offer represent approximately 92.37
percent of all the shares and votes in Biotie (excluding treasury shares held by
Biotie) and by exercising the other tendered Equity Interests for the
subscription of Biotie shares, the Offeror could increase its holding to
approximately 93.91 percent of all the shares and votes in Biotie (excluding
treasury shares held by Biotie).
As a result of more than 90% of the shares and votes in Biotie on a fully
diluted basis having been tendered in the Tender Offer, all of the conditions to
completion of the Tender Offer have been satisfied, and the Offeror has accepted
the Equity Interests tendered. The Offeror will complete the Tender Offer in
accordance with its terms and conditions. The final results of the Tender Offer
will be announced on 13 April 2016 and the offer consideration will be paid to
the holders of Equity Interests who have validly accepted the Tender Offer as of
the expiration of the Tender Offer on 8 April 2016 in accordance with the terms
and conditions of the Tender Offer on or about 18 April 2016.
In order to allow holders of Equity Interests who had not tendered their Equity
Interests by 8 April 2016 to accept the Tender Offer, the Offeror may decide to
commence a subsequent offer period in accordance with the terms and conditions
of the Tender Offer (the "Subsequent Offer Period"). Any decision to commence a
Subsequent Offer Period will be announced in connection with confirming and
announcing the final results of the Tender Offer on 13 April 2016.
The Offeror's intention is to acquire all the Equity Interests in Biotie. As the
Offeror's ownership in Biotie will exceed 90 percent of the shares and voting
rights in Biotie after the settlement of the Shares and ADSs already tendered in
the Tender Offer, the Offeror intends to initiate compulsory redemption
proceedings for the remaining Biotie Shares (including Shares represented by
ADSs) under the Finnish Companies Act.
Acorda's press release is enclosed to this stock exchange release as an
attachment.
Turku, 11 April 2016
Biotie Therapies Corp.
Timo Veromaa
President and CEO
For further information, please contact:
Virve Nurmi, Biotie Therapies Corp.
tel. +358 2 274 8900, e-mail: virve.nurmi(at)biotie.com
DISTRIBUTION:
www.biotie.com
Nasdaq Helsinki Ltd
Main Media
INFORMATION REGARDING BIOTIE
Biotie is a biopharmaceutical company focused on products for neurodegenerative
and psychiatric disorders. Biotie's development has delivered Selincro
(nalmefene) for alcohol dependence, which received European marketing
authorization in 2013 and is currently being marketed across Europe by partner
Lundbeck. The current development products include tozadenant for Parkinson's
disease, which is in Phase 3 development, and two additional compounds which are
in Phase 2 development for cognitive disorders including Parkinson's disease
dementia, and primary sclerosing cholangitis (PSC), a rare fibrotic disease of
the liver.
INFORMATION REGARDING ACORDA
Founded in 1995, Acorda is a biotechnology company focused on developing
therapies that improve the lives of people with neurological disorders, with its
common stock listed on Nasdaq US.
Acorda has an industry leading pipeline of novel neurological therapies
addressing a range of disorders, including multiple sclerosis, Parkinson's
disease, post-stroke walking deficits, epilepsy and migraine. Acorda markets
three FDA-approved therapies, including AMPYRA (dalfampridine) Extended Release
Tablets, 10 mg.
ADDITIONAL INFORMATION
Investors and holders of Biotie equity securities are strongly advised to read
the tender offer statement, including the offer to purchase, letter of
transmittal, acceptance forms and other related tender offer documents and the
related solicitation/recommendation statement on Schedule 14D-9 filed by Biotie
with the United States Securities and Exchange Commission (the "SEC"), because
they contain important information. These documents are available at no charge
on the SEC's website at www.sec.gov. In addition, a copy of the Tender Offer
Document and related documents may be obtained free of charge at www.acorda.com
or Office of the Corporate Secretary, 420 Saw Mill River Road, Ardsley, New York
10502.
In addition to the Schedule TO, Acorda files annual, quarterly and special
reports, proxy statements and other information with the SEC. You may read and
copy any reports, statements or other information filed by Acorda at the SEC
public reference room at 100 F Street, N.E., Washington, D.C. 20549. Please call
the SEC at 1-800-SEC-0330 for further information on the public reference room.
Acorda's filings with the SEC are also available to the public from commercial
document-retrieval services and at the website maintained by the SEC at
www.sec.gov.
THE TENDER OFFER IS NOT AND WILL NOT BE MADE DIRECTLY OR INDIRECTLY IN ANY
JURISDICTION WHERE EITHER AN OFFER OR PARTICIPATION THEREIN IS PROHIBITED BY
APPLICABLE LAW OR WHERE ANY TENDER OFFER DOCUMENT OR REGISTRATION OR OTHER
REQUIREMENTS WOULD APPLY IN ADDITION TO THOSE UNDERTAKEN IN FINLAND AND THE
UNITED STATES.
IN ADDITION, THE TENDER OFFER DOCUMENT, THE RELATED DOCUMENTS AND THIS RELEASE
WILL NOT AND MAY NOT BE DISTRIBUTED, FORWARDED OR TRANSMITTED INTO OR FROM ANY
JURISDICTION WHERE PROHIBITED BY APPLICABLE LAW. IN PARTICULAR, THE TENDER OFFER
IS NOT BEING MADE, DIRECTLY OR INDIRECTLY, IN OR INTO, CANADA, JAPAN, AUSTRALIA,
SOUTH AFRICA OR HONG KONG. THE TENDER OFFER CANNOT BE ACCEPTED BY ANY SUCH USE,
MEANS OR INSTRUMENTALITY OR FROM WITHIN CANADA, JAPAN, AUSTRALIA, SOUTH AFRICA
OR HONG KONG.
This release is for informational purposes only and does not constitute a tender
offer document or an offer, solicitation of an offer or an invitation to a sales
offer. Potential investors in Finland shall accept the Tender Offer only on the
basis of the information provided in the Tender Offer Document approved by the
Finnish Financial Supervisory Authority and related materials.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS
Some of the statements contained in this announcement are forward-looking
statements, including statements regarding the expected consummation of the
acquisition, which involves a number of risks and uncertainties, including the
satisfaction of closing conditions for the acquisition, such as the possibility
that the transaction will not be completed and other risks and uncertainties
discussed in the Tender Offer documents filed by Acorda and the
solicitation/recommendation statement filed by the Company. These statements are
based on current expectations, assumptions, estimates and projections, and
involve known and unknown risks, uncertainties and other factors that may cause
results, levels of activity, performance or achievements to be materially
different from any future statements. These statements are generally identified
by words or phrases such as "believe", "anticipate", "expect", "intend", "plan",
"will", "may", "should", "estimate", "predict", "potential", "continue" or the
negative of such terms or other similar expressions. If underlying assumptions
prove inaccurate or unknown risks or uncertainties materialize, actual results
and the timing of events may differ materially from the expected results and/or
timing discussed in the forward-looking statements, and you should not place
undue reliance on these statements. Acorda and the Company disclaim any intent
or obligation to update any forward-looking statements as a result of
developments occurring after the period covered by this announcement or
otherwise.
Acorda´s press release:
http://hugin.info/132030/R/2002445/738982.pdf
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Biotie Therapies Oyj via GlobeNewswire
[HUG#2002445]
Unternehmensinformation / Kurzprofil:
Datum: 11.04.2016 - 16:00 Uhr
Sprache: Deutsch
News-ID 463169
Anzahl Zeichen: 11237
contact information:
Town:
Turku
Kategorie:
Business News
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