Nektar Therapeutics
Delayed Nasdaq - 07/20 10:00:00 pm
48.73USD
-0.71%

NEKTAR THERAPEUTICS : Other Events (form 8-K)

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04/03/2018 | 10:53 pm

Item 8.01 Other Events.

On April 3, 2018, the Strategic Collaboration Agreement dated as of February 13, 2018 (the "Collaboration Agreement"), entered into between Nektar Therapeutics, a Delaware corporation ("Nektar"), and Bristol-Myers Squibb Company, a Delaware corporation ("BMS"), became effective, and the sale and issuance by Nektar of 8,284,600 shares of its common stock, par value $0.0001 per share (the "Shares"), to BMS pursuant to the Share Purchase Agreement dated as of February 13, 2018 (the "Purchase Agreement"), between the parties was consummated, following the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended.

BMS made a non-refundable upfront cash payment of $1 billion to Nektar under the Collaboration Agreement and paid the purchase price at $102.60 per Share, or a total of approximately $850 million, for the Shares under the Purchase Agreement. Please refer to the Current Report on Form 8-K filed by Nektar with the Securities and Exchange Commission on February 14, 2018, for the summary of the Collaboration Agreement and the Purchase Agreement.

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