February 10, 2016 9:46am

 

Astellas has successfully completed, through its indirect wholly-owned subsidiary Laurel Acquisition Inc. a tender offer to purchase all issued and outstanding shares of common stock of OCAT.


 

Astellas commenced the Tender Offer on November 19, 2015, U.S. Eastern Time, and the Tender Offer, as previously extended, expired at 5:00 p.m., U.S. Eastern Time, on February 9, 2016, and was not further extended.

 

The Bottom Line: The tender off just jumped over the wire by 3.6% to the rue of common shareholders. Following the completion of the tender offer, Laurel has been merged into Ocata on 2/10/16, U.S. ET, with Ocata being consolidated as a subsidiary of Astellas. As a result of the merger, OCAT’s common stock has ceased to be traded on the NASDAQ Global Market and will no longer be listed.

Shareholders feel betrayed by this Board of Directors and its CEO Paul Wooten

Trading has been halted.