GSK's Tender Offer for RAPT Therapeutics Successfully Completed; Merger Imminent at $58.00/Share

summarizeSummary

GSK's tender offer for RAPT Therapeutics has successfully concluded, with 93.36% of shares tendered, paving the way for the acquisition to finalize at $58.00 per share and subsequent delisting.

check_boxKey Events · M&A and Partnerships · RAPT

• Tender Offer Completed

  The tender offer by Redrose Acquisition Co., a subsidiary of GSK, for all outstanding shares of RAPT Therapeutics expired as scheduled on March 2, 2026, and was not extended.

• Minimum Condition Satisfied

  A total of 30,137,567 shares, representing approximately 93.36% of RAPT's outstanding common stock, were validly tendered and not withdrawn, satisfying the minimum condition for the offer.

• Shares Accepted for Payment

  All conditions to the offer have been satisfied, and the purchaser has irrevocably accepted for payment all validly tendered shares at the offer price of $58.00 per share.

• Merger to Finalize

  The acquisition will be completed through a short-form merger under Section 251(h) of the DGCL, without a meeting of RAPT Therapeutics stockholders.

auto_awesomeAnalysis · RAPT · Life Sciences

This filing confirms the successful completion of GSK's tender offer for RAPT Therapeutics, marking the final stage of the acquisition. With 93.36% of shares tendered, the minimum condition has been satisfied, and GSK's subsidiary will proceed to acquire all remaining shares at $58.00 per share through a short-form merger under Section 251(h) of the DGCL, bypassing a shareholder meeting. This definitive event means RAPT Therapeutics will soon be delisted from Nasdaq, providing a cash exit for shareholders at the agreed-upon price. The stock is currently trading at the offer price, reflecting the market's full anticipation of this outcome.