Biotie Therapies Corp. (Biotie or the Company) (Nasdaq Helsinki: BTH1V) announces its interim report for the six month period ended June 30, 2016.
Company Highlights
April - June 2016
On January 19, 2016 Biotie announced that it entered into a combination agreement with Acorda Therapeutics, Inc. (Acorda) whereby Acorda, either directly or through a wholly-owned subsidiary, would make a public tender offer in Finland and in the United States to purchase all of the issued and outstanding shares, American Depositary Shares (ADSs), stock options, share units and warrants in Biotie that are not owned by Biotie or any of its subsidiaries (the Tender Offer). On April 13, 2016 Acorda announced the final results of the Tender Offer. As all the conditions to complete the Tender Offer had been satisfied it was confirmed that Acorda would complete the Tender Offer in accordance with its terms and conditions. The offer consideration was paid to the holders of equity interests who validly accepted the Tender Offer by April 8, 2016 in accordance with the terms and conditions of the Tender Offer, on or about April 18, 2016. Acorda also commenced a subsequent offer period in accordance with the terms and conditions of the Tender Offer (the Subsequent Offer Period). The Subsequent Offer Period commenced on April 14, 2016 and ended on April 28, 2016. The offer consideration was paid to holders of equity interests who had validly accepted the Tender Offer before the Subsequent Offer Period ended in accordance with its terms and conditions, on or about May 4, 2016. 694,904,307 shares, 3,178,662 ADSs, 435,000 2011 option rights, 4,280,125 2014 option rights, 12,401,120 2016 option rights, 1,949,116 swiss option rights, 25,000 2011 share rights, 3,972,188 2014 share rights and 220,400,001 warrants were tendered in the Tender Offer and Subsequent Offer Period, representing approximately 96.77 % of all the shares and votes in Biotie on a fully-diluted basis as defined in the terms and conditions of the Tender Offer.
