REDWOOD CITY, Calif., Dec. 24 /PRNewswire-FirstCall/ -- Maxygen, Inc. , a biopharmaceutical company focused on the development of improved versions of protein drugs, today announced the preliminary results of its modified “Dutch Auction” tender offer, which expired at 5:00 p.m., New York City time, on December 23, 2009.
The total number of shares expected to be purchased in the tender offer include the 6,557,377 shares Maxygen initially offered to purchase, as well the 787,726 additional shares Maxygen has a right to acquire (without extending the tender offer) pursuant to the terms of the tender offer.
Final results will be determined subject to confirmation by the depositary of the proper delivery of the shares validly tendered and not withdrawn. The actual number of shares to be purchased, the proration factor and the price per share will be announced following the completion of the confirmation process. Payment for the shares accepted for purchase, and return of all other shares tendered and not purchased, will occur promptly thereafter.
About Maxygen
Maxygen is a biopharmaceutical company focused on developing improved versions of protein drugs through both internal development and external collaborations and other arrangements. Maxygen uses its proprietary DNA shuffling technology and extensive protein modification expertise to pursue the creation of biosuperior proteins. For more information, please visit www.maxygen.com.
CONTACT: Patrick McHugh or Bruce H. Goldfarb, Okapi Partners LLC,
+1-212-297-0720, info@okapipartners.com
Web site: http://www.maxygen.com/
