Freeline Therapeutics Shares Rise on Takeover by Syncona

Dow Jones2023-11-22

By Colin Kellaher

Freeline Therapeutics Holdings's American depositary shares rose more than 11% on Wednesday after the company agreed to be taken private by majority shareholder Syncona.

Freeline ADSs were recently changing hands at $6.40. The shares are down about 10% for the year.

The clinical-stage biotechnology company said Syncona, which already owns about 58% of Freeline, will pay $6.50 each for the remaining ADSs, a 12% premium to Tuesday's closing price and more than 50% above its closing price on Oct. 17, before Syncona revealed that is had made an initial offer of $5 per ADS.

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

(END) Dow Jones Newswires

November 22, 2023 10:19 ET (15:19 GMT)

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