AIkido Pharma Gets $8/Share Buyout Offer From Shalom Auerbach >AIKI

Dow Jones2022-08-10

By Colin Kellaher

AIkido Pharma Inc. on Wednesday said it received an unsolicited offer from shareholder Shalom Auerbach to acquire the company for about $42 million, or $8 a share.

The offer represents a 28% premium to Tuesday's closing price of $6.25 for the New York biotechnology company.

AIkido said its board will carefully review the proposal to determine the course of action it believes is in the best interest of the company and its shareholders, adding that it will respond in due course.

In a letter to AIkido's board, Mr. Auerbach said he beneficially owns a roughly 3.8% stake, and that he would be able to fund a transaction using cash on hand and external financing.

Write to Colin Kellaher at colin.kellaher@wsj.com

$(END)$ Dow Jones Newswires

August 10, 2022 08:48 ET (12:48 GMT)

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