Biogen Tender Offer for Apellis Pharmaceuticals Successfully Completed; Merger Imminent
APLS has more than doubled off its 52-week low of $16.1 on elevated volume (11× avg).
Summary
Biogen has successfully completed its tender offer for Apellis Pharmaceuticals, with 82.4% of shares tendered, and expects to finalize the merger today, resulting in Apellis's delisting.
Key Events · M&A and Partnerships · APLS
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Tender Offer Completed
Biogen's tender offer for Apellis Pharmaceuticals expired on May 13, 2026, with 82.4% of outstanding shares validly tendered and accepted for payment.
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Merger Consummation
All conditions for the merger have been satisfied or waived, and the acquisition is expected to be consummated today, May 14, 2026, making Apellis a wholly-owned subsidiary of Biogen.
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Delisting and Deregistration
Apellis shares will be delisted from the Nasdaq Global Select Market, and the company will cease its SEC reporting obligations.
Analysis · APLS · Life Sciences
This filing confirms the successful completion of Biogen's tender offer for Apellis Pharmaceuticals. With 82.4% of shares tendered, all conditions have been met, and the merger is expected to close today, May 14, 2026. This marks the final step in Apellis becoming a wholly-owned subsidiary of Biogen, leading to its delisting from Nasdaq and the cessation of its public reporting obligations.
At the time of this filing, APLS was trading at $41.05 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $5.3B. The 52-week trading range was $16.10 to $41.14. This filing was assessed with neutral market sentiment and an importance score of 10 out of 10.