TREVOSE, PA — Strongbridge Biopharma plc (NASDAQ: SBBP) announced that the High Court of Ireland recetnly approved the previously announced proposed acquisition of Strongbridge by Xeris Pharmaceuticals, Inc. (Nasdaq: XERS) by means of a scheme of arrangement under Chapter 1 of Part 9 of the Irish Companies Act 2014.
The Court sanction hearing in relation to the Scheme was held earlier today at which the Court sanctioned the Scheme and confirmed the related reduction of capital.
The Scheme became effective on October 5, 2021, upon the registration of the following documents by the Registrar of Companies in Ireland:
- The order of the Court sanctioning the Scheme and confirming the related reduction of capital; and
- The minute required by Section 86 of the Act in respect of the reduction of capital.
The Company states that payment to Strongbridge shareholders of the consideration to which they are entitled under the Scheme will be made within 14 days in accordance with the terms of the Scheme and is expected to commence as soon as practicable.
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