Kuva Labs Launches $4.00 Tender Offer With Up To $3.00 CVR for Lisata
LSTA•Kuva Labs will pay $4.00 per share in cash plus one CVR entitling holders to up to $3.00 per share upon achieving Phase 2a enrollment and FDA filing milestones. Lisata’s board unanimously recommends tendering shares and expects deal closure in Q3 2026 subject to customary conditions.
1. Tender Offer Terms
Under the Merger Agreement, Kuva’s subsidiary offers $4.00 per share in cash at closing and one non-tradeable CVR entitling holders to up to $3.00 per share upon meeting Phase 2a enrollment and FDA application milestones for its cyclic peptide candidate.
2. Board Recommendation and Timeline
Lisata’s board unanimously recommends shareholders tender shares by the July 10, 2026 deadline, expecting the deal to close in the third quarter of 2026 upon securing a majority of shares and satisfying customary conditions.
3. Financing and Post-Closing Plans
Kuva plans to finance the offer through debt, equity or credit facilities, though no commitments are in place; upon completion, Lisata’s stock will be delisted and the company will cease SEC reporting as it becomes privately held.
