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)
Copyright (c) 2023 Dow Jones & Company, Inc.
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