In addition, the contingent value rights
generally will provide a holder with an opportunity to receive certain net proceeds, if any are recovered, from certain ongoing litigation and government investigations relating to A.
In addition to the upfront cash payment, Alexza stockholders will be granted contingent value rights
to receive cash payments in four payment categories if specified milestones are achieved following the closing.
But the new offer also includes a contingent value right
of up to $25 per share related to the sales of Darpin, Allergan's experimental eye drug that is seen as a potential competitor to Regeneron Pharmaceuticals Inc's REGN.
468% Contingent Value Right
and approximately 72,711,709 shares of Class A common stock will be issued and outstanding.
The contingent value right
represents a proportionate interest in up to an additional USD 8.
In conjunction, Dyax shareholders may receive additional value through a non-tradable contingent value right
that will pay USD4.
The Proposed Restructuring will allow the Company to restructure its Notes with a combination of cash, common shares, new terms for the remaining balance of the Notes and a Contingent Value Right
1bn in cash, and up to USD30 per share (approximately USD360 million in aggregate) in a Contingent Value Right
(CVR) that may be payable based on the status of eluxadoline, Furiex's lead product, as a controlled drug following approval.
Icahn ("Icahn") to purchase all of the outstanding shares of CVR for approximately $30 per share in cash, plus a Contingent Value Right
00 per share plus one non-transferable contingent value right
per share, which will entitle the holder thereof to a maximum payment of $4.
The Contingent Value Right
will entitle stockholders to an additional payment, in cash, equal to the value that CVR is sold for in excess of $30 per share.
05 Oil Search shares plus a contingent value right
for each InterOil share.