India, June 9 -- Elevation Oncology, Inc. (ELEV) announced Monday that it has entered into a definitive agreement to be bought by Concentra Biosciences, LLC. The deal consideration consists of $0.36 in cash per share of Elevation Oncology stock, plus one non-tradeable contingent value right or CVR.
In the pre-market activity on the Nasdaq, Elevation Oncology shares were gaining more than 21%.
The company noted that the deal price represents the right to receive 100% of the closing net cash in excess of $26.4 million; and 80% of any net proceeds received within five years following closing from any disposition of EO-1022 that occurs within one year following closing, each pursuant to the CVR Agreement.
The Elevation Oncology Board of Dire...