Pathos AI makes suc­cess­ful takeover bid for Rain On­col­o­gy

Pathos AI is ac­quir­ing Rain On­col­o­gy for $1.16 in cash per share plus a non-trad­able con­tin­gent val­ue right for po­ten­tial cash pay­ments of up to $0.17 per share, just a few months af­ter in­vest­ment group Tang Cap­i­tal Man­age­ment’s takeover bid failed.

Rain will op­er­ate as a sub­sidiary of Pathos, with the ac­qui­si­tion ex­pect­ed to close in Jan­u­ary, though the of­fer de­pends on sev­er­al con­di­tions, in­clud­ing the avail­abil­i­ty of at least $49.6 mil­lion in cash and cash equiv­a­lents.

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