Syncona Proposes To Acquire Freeline Therapeutics

(RTTNews) - Syncona Ltd (SYNC.L) said that Syncona Investment Management Limited, the investment manager, has submitted a non-binding proposal to the special committee of the Board of Freeline Therapeutics Holdings plc for a transaction to acquire the entire share capital not already owned by Syncona for an upfront cash payment of $5.00 per American Depositary Share.

The offer price represented a premium of 20% over the volume weighted average price of $4.16 over the period since the release of Freeline's recent clinical data release on 4 October 2023 until close on 16 October 2023. Syncona currently owns about 57.9% of the issued share capital of Freeline.

Syncona noted that it intends to engage in discussions with Freeline and its representatives concerning its proposal. There can be no certainty as to whether discussions will occur, or if they do, the outcome of such discussions, and no assurances can be given that the transaction will proceed.