IGM Biosciences be acquired by Concentra for $1.247 in cash per share

IGM Biosciences (IGMS) announced that it has entered into a definitive merger agreement with Concentra Biosciences, whereby Concentra will acquire IGM Biosciences for $1.247 in cash per share of IGM Biosciences common stock, plus one non-tradeable contingent value right, CVR, which represents the right to receive: 100% of the closing net cash of IGM Biosciences in excess of $82.0 million; and 80% of any net proceeds received within one year following closing from any disposition of certain of IGM Biosciences’ product candidates and intellectual property that occurs within one year following closing, each pursuant to a contingent value rights agreement. The IGM Biosciences Board of Directors has unanimously determined that the acquisition by Concentra is in the best interests of all IGM Biosciences stockholders and has approved the Merger Agreement and related transactions.