Rain Oncology Enters into Agreement to be Acquired by Pathos AI for $1.16 in Cash per Share Plus Contingent Value Rights
Newark, Calif., Dec. 13, 2023 (GLOBE NEWSWIRE)
Rain Oncology Inc. (Nasdaq: RAIN) (“Rain”), today announced it has entered into a definitive merger agreement whereby Pathos AI, Inc. (“Pathos”) will acquire Rain for $1.16 in cash per share plus a non-tradeable contingent value right (a “CVR”) for potential cash payments of up to approximately $0.17.
The Deal
The acquisition of Rain Oncology by Pathos AI marks a significant move in the pharmaceutical industry. The agreement includes a cash payment of $1.16 per share, with the potential for additional cash payments through the CVR. This strategic merger is expected to enhance the capabilities of both companies and drive innovation in the field of oncology.
Rain Oncology, a leading biopharmaceutical company focused on developing novel cancer treatments, will benefit from Pathos AI’s expertise in artificial intelligence and data analytics. The integration of Pathos AI’s technology is expected to accelerate drug discovery and development processes at Rain, leading to the creation of more effective and personalized cancer therapies.
On the other hand, Pathos AI will gain access to Rain Oncology’s extensive portfolio of oncology products and pipeline of promising drug candidates. This acquisition will broaden Pathos AI’s reach in the oncology market and position the company as a key player in the development of cutting-edge cancer treatments.
Impact on Individuals
As a shareholder of Rain Oncology, the acquisition by Pathos AI could result in a significant financial gain. The cash payment of $1.16 per share, along with the potential for additional cash payments through the CVR, offers an attractive return on investment. Additionally, the merger may lead to the development of new and improved cancer therapies, providing hope for individuals and families affected by cancer.
Impact on the World
The merger of Rain Oncology and Pathos AI has the potential to revolutionize the field of oncology on a global scale. By combining resources and expertise, the two companies can accelerate the discovery and development of innovative cancer treatments. This collaboration may lead to breakthroughs in cancer research and ultimately improve patient outcomes worldwide.
Conclusion
The acquisition of Rain Oncology by Pathos AI represents a significant step forward in the advancement of cancer treatment. With the combined efforts of both companies, we can expect to see groundbreaking developments in oncology that have the potential to positively impact individuals and the world as a whole.
