Syncona to Acquire Applied Genetic Technologies

 Upfront consideration in cash of $0.34 per share representing a premium of approximately 42% over AGTC’s closing stock price on October 21, 2022

Total consideration of up to $1.07, including up to $0.73 per CVR, representing a premium of up to approximately 344% over AGTC’s closing stock price on October 21, 2022

AGTC’s Board has examined all alternative options for the future of AGTC and believes this transaction clearly delivers the best value for shareholders

Given the state of equity and other funding markets, AGTC sees significant challenges in funding ongoing operations beyond 2022

Syncona and AGTC to host conference call on October 24, 2022 at 7:30 a.m. ET

Syncona and AGTC will host a conference call and webcast to review the details of the transaction on October 24, 2022 at 7:30 a.m. ET. To access the call, dial 877-407-6184 (U.S. participants) or 201-389-0877 (non-U.S. participants). A live webcast will be available in the Events and Presentations section of AGTC’s Investor Relations site at http://ir.agtc.com/events-and-presentations.

Please log in approximately 10 minutes prior to the scheduled start time. The archived webcast will be available in the Events and Presentations section of AGTC’s website following the call.

https://finance.yahoo.com/news/syncona-acquire-applied-genetic-technologies-020500963.html