CARGO Therapeutics to Be Acquired by Concentra Biosciences
“CARGO Therapeutics, Inc., a biotechnology company that has focused on developing CAR T-cell therapies, today announced that it has entered into a definitive merger agreement with Concentra Biosciences, LLC, whereby Concentra will acquire CARGO for $4.379 in cash per share of CARGO common stock, par value $0.001 per share, plus one non-transferable contingent value right, which represents the right to receive: (i) 100% of the closing net cash of CARGO in excess of $217.5 million; and (ii) 80% of any net proceeds received within two years following closing from any disposition of certain of CARGO’s product candidates that occurs within two years following closing, each pursuant to a contingent value rights agreement.
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