Synlogic (SYBX) has released an update.
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Synlogic, Inc. has implemented a shareholder rights plan to deter unsanctioned control by potential acquirers, safeguarding stockholder interests and ensuring fair value for their shares. Shareholders will receive one preferred share purchase right per common share, which becomes active if a party acquires a significant stake without board approval. These rights grant the ability to buy company stock at a discount, unless the acquiring entity’s rights become void. The plan, offering a protective mechanism until February 2025, includes provisions for existing significant shareholders and allows the board to redeem or amend the rights under specific conditions.
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