Fail: Steadymed <> United Therapeautics.
These CVRs have a bad track record. This CVR expired worthless Aug 30, 2023
Please read the SEC documents regarding this current security and understand that I owned some of these shares. This isn’t an offer or solicitation to buy shares.
https://ir.unither.com/press-releases/2018/04-30-2018-014551335
April 30, 2018 /PRNewswire/ -- United Therapeutics Corporation (NASDAQ: UTHR) and SteadyMed Ltd. (NASDAQ: STDY) announced today the signing of a definitive merger agreement under which United Therapeutics will acquire SteadyMed for $4.46 per share in cash at closing and an additional $2.63 per share in cash upon the achievement of a milestone related to the commercialization of Trevyent®.
SteadyMed United Therapeutics CVR expired Wednesday Aug 30, 2023
Were there any hints: I am not sure. As I was doing an autopsy, it was suspicious Jonathan M.N. Rigby relative also worked for this company and she couldn’t/Wouldn’t answer the most basis questions about the merger CVR. Then there was two rounds of insiders selling as the deal was closing. I chalked it up to taxes, liquidity etc, but I didn’t like that answer because deep down I knew that if they knew the merger was going occur for cash +CVR they would get cash for their stock in a matter of weeks and could pay their bills. I wonder and think if the insiders that were selling thought that the CVR had no worth so it was superior to sell.
Another frustration that I didn’t foresee was that the payment was held for a long time as the company had to issue payments to each individual person and confirm what they wanted and confirmed tax withholding. This had something to do with the Israel domicile.
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